Savings Accounts and Health in Pregnancy Grant Act 2010
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The Savings Accounts and Health in Pregnancy Grant Act 2010 (c. 36) is an Act of the Parliament of the United Kingdom. It ends government support of Child Trust Funds, the Saving Gateway and the Health in Pregnancy Grant.
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Long titleAn Act to make provision about Saving Gateway accounts; and for connected purposes.
Citation2010 c. 36
Introduced byGeorge Osborne MP, Chancellor of the Exchquer (Commons)
Lord Sassoon (Lords)
Lord Sassoon (Lords)
Territorial extentEngland and Wales, Scotland and Northern Ireland
| Act of Parliament | |
| |
| Long title | An Act to make provision about Saving Gateway accounts; and for connected purposes. |
|---|---|
| Citation | 2010 c. 36 |
| Introduced by | George Osborne MP, Chancellor of the Exchquer (Commons) Lord Sassoon (Lords) |
| Territorial extent | England and Wales, Scotland and Northern Ireland |
| Dates | |
| Royal assent | 16 December 2010 |
| Commencement | 16 December 2010 (16 February 2011 for repeal of Saving Gateway Accounts Act 2009) |
Status: Current legislation | |
| History of passage through Parliament | |
| Text of statute as originally enacted | |
| Revised text of statute as amended | |
Provisions
The Act amends the Child Trust Funds Act 2004 by closing the funds to new applicants starting in January 2011. Existing accounts would however continue to function as before.[1][2] The Act also repealed the Saving Gateway Accounts Act 2009 and removed the Health in Pregnancy Grant.[3]
Reception
The Labour Party accused the Conservatives of reneging on their election pledge to not abolish Child Trust Funds.[2]