Abolition
On May 24, 2010, the Chancellor of the Exchequer George Osborne MP and Chief Secretary to the Treasury David Laws MP announced that the £250 top up payments into the child trust fund would cease in August 2010, with no payments for newborns from the end of 2010. The Savings Accounts and Health in Pregnancy Grant Act 2010 facilitates the abolition of the fund.
Read more about this topic: Child Trust Fund
Famous quotes containing the word abolition:
“It was a marvel, an enigma in abolition latitudes, that the slaves did not rise en-masse, at the beginning of hostilities.”
—Rebecca Latimer Felton (1835–1930)
“I have no concern with any economic criticisms of the communist system; I cannot enquire into whether the abolition of private property is expedient or advantageous. But I am able to recognize that the psychological premises on which the system is based are an untenable illusion. In abolishing private property we deprive the human love of aggression of one of its instruments ... but we have in no way altered the differences in power and influence which are misused by aggressiveness.”
—Sigmund Freud (1856–1939)
“Woman—with a capital letter—should by now have ceased to be a specialty. There should be no more need of “movements” on her behalf, and agitations for her advancement and development ... than for the abolition of negro slavery in the United States.”
—Marion Harland (1830–1922)