EOnation: OWNERSHIP: Blair proposes baby bonds

[Dan Bell <dbell@kent.edu>]

I thought this note from Alan Zundel would be of interest to
those on the eonation list:

Washington Post columnist David Boder reported this week that British Prime 
Minister Tony Blair plans to present to the next Parliament a bill to open 
savings accounts for each child born in Britain each year.  At birth a child 
would receive between $450-750, depending on family income, with the 
government putting in an additional $75 to $150 at ages 5, 11 and 16.  
Relatives would receive tax breaks for their contributions.  The 'baby bonds' 
would accumulate tax-free until the child reaches age 18; the government 
estimates an account would be worth $4500-7500 at that point.  Blair is about 
to launch a campaign for a second full-term Labor government.

This idea has obvious affinities with the Universal Savings Accounts that 
President Clinton had proposed in one or two of his last State of the Union 
addresses.  I don't think the idea was ever put into legislative form here.

Alan Zundel
For the Public Good
http://www.publicgood.org

--
Dan Bell
International Program Coordinator
Ohio Employee Ownership Center
Kent State University
Kent, OH 44242
(330) 672-0333 << New direct number!
(330) 672-4063 fax
dbell@kent.edu
http://www.kent.edu/oeoc/
http://cog.kent.edu