A newspaper investigation has revived criticism of the Child Trust Fund scheme, the government savings initiative for children first rolled out under the last Labour administration, pointing to new Chancellor John Healey's role in its oversight. The report highlights that around £1.6 billion sitting in these accounts remains unclaimed by the young adults who are now entitled to it, while the companies managing the funds are reported to have earned substantial fees and profits from running the scheme.

The Child Trust Fund gave vouchers to children born in a set period to be invested in long-term savings accounts, which mature and become accessible once the holder turns 18. Many beneficiaries appear unaware the accounts exist or have not come forward to claim the money, leaving large sums untouched, while providers continued to draw management charges. The criticism comes amid wider scrutiny of Healey following his elevation to Chancellor, with questions raised over his historical ministerial responsibility for the scheme's administration.