Child Trust Fund Recipients with Disabilities 2024-05-07
2024-05-07
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
Parents of young people without capacity face challenges in accessing their child trust fund through deputyship orders. A consultation on a mental capacity small payment scheme was held but not legislated upon.
Whether the government has taken recent steps to ensure that people with disabilities can access their child trust fund when they turn 18. The only way for parents is through a deputyship order, and over 80,000 young people remain locked out of their funds. Would the Minister agree to look at this issue again?
The Ministry of Justice launched a programme in June 2023 to raise awareness of the Mental Capacity Act, and introduced a toolkit. The Minister is willing to meet with the hon. Member to discuss further solutions.
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Assessment & feedback
Specific review or legislative action requested was not committed to
Response accuracy
Q2
Partial Answer
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Context
Over 80,000 young people in England and Wales are unable to access their child trust fund due to lack of capacity. A mental capacity small payment scheme was considered but not legislated upon.
After consulting on a mental capacity small payment scheme, which would allow temporary access to release funds, Ministers opted for a toolkit instead. Would the Minister agree to look at this issue again?
The hon. Lady is campaigning in this area. The Minister met with colleagues, including the Member for Sheffield Central, to discuss this issue and is willing to meet again with the hon. Lady.
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Assessment & feedback
Specific review or legislative action requested was not committed to
Response accuracy
Q3
Partial Answer
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Context
Financial institutions are making efforts to ease access for disabled customers. The Treasury's support is sought for cross-departmental collaboration.
I am grateful for the meeting referred to by the Minister. Will he compliment financial institutions trying to make it easier for their disabled customers, and would such a broader approach have his support?
Financial Conduct Authority collaboration is key. Working with the Ministry of Justice, Department for Work and Pensions, and ensuring no regulatory issues for compliant financial institutions has support from the Minister.
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Assessment & feedback
Specific legislative action requested was not committed to
Response accuracy