Child Trust Funds scrapped as Osborne reveals spending cuts

£3 Billion?

Typo?

Better be!

The criminal MP's spent tens of billions on 2 illegal wars and now jobs in the Civil service and elsewhere are at risk due to the deficit resulting from the wars.

Clueless governments still don’t understand that it is their ruinous actions that have created a credit infested and bankrupt world.

These criminals are now planning another war with Iran - something that will be totally ruinous for the economy.

Labour handed out the blank cheques to the banks, now the Con-Dems will take it from your account. Back to the riots of the 1970's I fear.

It's funny that they are talking of £6Bn cuts to tackle the debt, which sounds like a huge amount. That is until you compare it to the defecit itself here reported at £156Bn. So the 6Bn is only nearly 4% a drop in the ocean. Meanwhile, the debt is still ramping up. At the moment it still seems very unlikely that we can possibly get out of this hole? I didn't here anything on MOD cuts, surely there are Billions to be saved by reducing our bloated war machine. Now North Korea is back in the cross hairs! Will the US now pour Billions/Trillions into another war that goes nowhere?

Perhaps the US would like place a few nukes there pointing at its arch foe the Chinese, whom have so ruthlessly taken away all their money and businesses!

I know it seems such a long time ago and much has happened since the election, but I DO remember that the much talked about £6bn cut in spending was supposed to have been the 'excessive' spending of the last Govt. as determined by the consultants. I DO NOT remember anything about Child Trust Funds being cut.

Of course, the Govt. could say that the books are worse than they thought BUT the deficit has been revised DOWN to £156bn.

This seems to be the rushed decision of an administration trying to cram in dogmatic decisions in a short-lived term. This country deserves an administration that takes considered action NOT a 'scorched earth' policy.

So far so good, they appear to be cutting down on some silly expenditure, and also unfair expenditure for the middle earner.

When you talk about thie being a drop inthe ocean don't forget that uif the Government play their cards rigth with th e shares they hold in Lloyds and RBS and sell at the right time when the RBS price is around 100p they have a chance to reduce this deficit by over £100bn.

So don't worry everything with be alright and the Con Dem party will be hailed as the saviours of the British economy for using the products of New Labours seeds that were planted 2 years ago.

It is OK falks, do not panic. We can still borrow money from theChinee to buy their goods and carry on spending 100Bn on the Trident, to impress the Iranians and Osama bin Laddin.

Oh, that "saing" on subsidies to local Councils, guess who will pay for it instead !!!

im glad they have cut the money for babies

i didnt tell the parents to go on have a load of kids and by the way have my hard earnt money to start their savings bank!!!

not only that how many immigrants are coming over here and popping out babies like theres no tomorrow !!!,do u think theyve paid into the system

oh and good for tories that they got rid of hips as well. more common sense things like that will do our countyr all the better for the future

"The department to face the greatest cutbacks will be Vince Cable's Department for Business Innovation and Skills, which must save £836 million."

Well, Boy George can't have Vince interfering too much, can he?

If the coalition is so keen to cut down on unnecessary expenditure, why was it necessary to send THREE ministers and their entourages to Afghanistan?

Scrapping CTF all together is a ridiculous idea. This is an important way of allowing parents a vehicle for saving for one's child future. I do not mind them scrapping the payments as this was a nominal amount anyhow but this is the only way which allows me to invest in stocks and shares for my children.

I am aware that the majority of parents did not invest but why should those of us who have made the effort to do so be penalised.

Fortunately as far as I am aware CFT's which already exist will continue to do so and currently my son's stands at around £32K and he is only 5 years old and I intend it to be worth well over a million by the time he is 18.

On one hand Governments encourage you to save for the future then on the other take it away from you when you do i.e. IHT.

So Peter Stubbs junior will inherit £1m when he is 18 to spend on drugs, fast cars and even faster women. If he lives to be 21 he may then start thinking about a job and a career, or more likely he will ask Mummy and Daddy for a little more help.

Thats the way to get this country back on its feet.

As we know the new government has taken a 5% pay cut, is this after the £1.5% in March 10 and 2.23 % in 2009. So in real terms the MPS have just lost 1.28% with benefit 2009 pay rise in their pocket anyway.

OK some have refused to take the 1.5% pay rise!! But then how about being a more generous paycut of 15% if this government is serious about cutting the deficit.

Majority of MPS also have multiple directorships of companies(Ken Clarke- Bat) so this will hardly dent the rich millionaires and the Budget deficit for the MPs who were elected to serve the public.

No mention has been made of the Non Doms rich MPS - Such as Lord Ashcroft., Mittal who has been avoiding paying any tax at all. How about getting them to contribute to the Tax in UK.

How about cutting the Trident project which will save millions immediately

Watch this space.

I absolutely believe that the benefit system should exist to help those who are genuingly disadavantaged in our society. However I absolutely do not believe that child benefit, child tax credit, or child trust fund vouchers should be provided to families who have a decent level of income. it's perfecly reasonable that there will be differing views re what amounts to a 'decent level of income' and therefore where the income related eligibility cut off point should be set however it seems only reasonable, particularly when cost reductions are obviously necessary, that a cut off should exist. The same sentiment applies as far as I am concerned re winter fuel allowance where the only eligibility criteria seems to be the age of the person ie no account is taken of their associated financial situation. I also understand that people who have a 'decent' income may feel that they pay enough tax therefore why shouldn't they benefit however it seems crazy to me that the present system amounts to them being taxed and then reimbursed via a benefit administrative system. Surely it must be better to award financial help only to those who genuinely need it and in doing so reduce costs by removing unecessary assistance and associated administration and bureacracy , whilst hopefully using some of the gains to reduce the overall level of taxation in the first place. It obviously suited the 'State knows better than you' brigade to take our money and then graciously give some of it back via an army of Civil Servants. Its time this nonsense ended.

Dear Cynic you couldn't be wider of the mark if you tried, but one thing I'll make sure he learns if he uses that money to set up a company and employ people is to make sure he doesn't employ lazy irresponsible crack heads like you. A** hole

QE and the budget deficit programme 'inspired' by the US bankers (Lehman, Goldman Sachs to name but 2) especially over the past couple of decades, will ensure that our children (& their children) will be paying throughout their tax-paying lives for these quasi-criminal fiscal activities.

So how utterly inappropriate for the Tories to hit the one area in which these future payers of our debts might have taken some, albeit small, consolation.

Do they know what they are doing? Do they give a damn? And of course it can all be called a 'coalition' decision.

Its an old chestnut, but why not put road tax on

petrol?. It would save money all over and valuable time for the police plus anyone involved in the collection of road tax, which would be impossible to avoid if it was collected in this fashion. An M.O.T\INSURANCE

disc could be used on the windscreen.

If you have a large gas guzzling car or use the road more than average then you would pay

more. Until any politician takes action rather than words it is unlikely Britain will haul itself out of this mess.

Also have a state run national lottery where

all the money that goes to so called "good causes" could go to the good cause of the national debt