Source · Select Committees · Public Accounts Committee
Recommendation 17
17
HMRC lacks dedicated funding and effective partnerships to achieve Child Trust Fund objectives.
Conclusion
HMRC made clear its view that the duty to implement the policy was not fully its responsibility. HM Treasury has not given HMRC dedicated funding for the scheme. The Share Foundation believes that HM Treasury is not allowing HMRC to do more with Child Trust Funds, despite some in HMRC wanting to do so. However, HMRC has not established effective partnerships with other departments and organisations involved in Child Trust Funds, a step which it acknowledges is needed to implement and achieve the policy’s objectives.28
Government Response
A response document is linked to this report, dated 24 September 2023. Response attribution to this conclusion has not been verified. Read the response document ↗