The development of asset-based welfare: the case of the Child Trust Fund in the UK

Prabhakar, Rajiv (2009). The development of asset-based welfare: the case of the Child Trust Fund in the UK. Policy and Politics, 37(1) pp. 129–143.

DOI: https://doi.org/10.1332/030557308X364169

Abstract

Asset-based welfare has recently attracted interest across the globe. This approach insists that the assets a person owns is an important part of well-being. The UK's Child Trust Fund is one of the most prominent examples of this approach. This provides a capital endowment to all new babies and this policy and has generated international interest. However, the Child Trust Fund does not command universal support in the UK. One of the main parties is committed to abolishing this policy. This paper examines the debate about the Child Trust Fund in the UK. I suggest that criticisms of the Child Trust Fund are part of wider concerns about the future direction of asset-based welfare. This paper is important for highlighting some of the dilemmas associated with the new agenda on asset-based welfare.

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