Financial Secretary to the Treasury, Mark Hoban, introduced the second reading of the Savings Accounts and Health in Pregnancy Grant Bill in the House of Commons on Tuesday 26 October. It passed with a vote and will now be considered further in a Public Bill Committee.
Summary of the Bill
This Bill gives effect to decisions made as part of the initial review of public expenditure undertaken soon after the 2010 General Election.
Three schemes introduced by the previous Labour Government – the Child Trust Fund; the Saving Gateway; and the Health in Pregnancy Grant – are deemed to be unaffordable by the Coalition Government and will be brought to a close by the provisions of the Bill.
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