800,000 people will get money from 'hidden savings' from next month

manchestereveningnews.co.uk:

Mirror reports that children born after then won't get any cash as the Conservative and Liberal Democrats coalition axed the scheme as part of their austerity policy.

Next month, thousands of the funds are set to mature, meaning those who turn 18 will be able to cash in their 'hidden' savings.Around 6.3million child trust accounts were set up, roughly 4.5million by parents or guardians and a further 1.8million by HMRC where parents or guardians did not open an account.

They were automatically set up for children born between September 1, 2002 and January 2, 2011, who lived with a child benefit claimant.At the time, parents and guardians received a voucher to deposit in a child trust fund account on behalf of the child.This was worth between.