London - The British Chancellor, Mr Gordon Brown, yesterday unveiled plans at Downing Street for savings accounts for new-born babies which could amass more than £3,000 by age 18 for those born into low-income households.
The Child Trust Fund - dubbed "baby bonds" by the media and part of the Government's on-going drive to eradicate child poverty - would see the state give poorer children a fund of up to £500 at birth. The fund would be topped up with further payments at age five, 11 and 16 to give a maximum endowment of £800.