Yes, the baby bond scheme is a positive idea. Only a small proportion of people have savings while the vast majority of us are in debt. Yes, it is also undoubtedly an election gimmick. Timing is everything in politics, and what better time to launch an initiative with proven cross-party appeal than a couple of weeks before a general election?
But what will an 18 year old do with the money in 2020? The way beer prices are heading they will need a good proportion of it to buy a round at their 18th birthday party. However, we all know that the best thing they could do is stick it in a pension plan, so that they have some hope of being able to retire by the age of 65.
John Allen (27), assistant engineer, Parkman
Would the money not be better put into the NHS to help improve their services? I agree that having money available to a person when they reach 18 would be a bonus, especially helping them go on to university. Guidelines should be set up to ensure the money goes into the correct channels, ie further education or job skills and not wasted on 'two weeks lashing it up in Ibiza' as will inevitably happen, because that's what I would do with it! ! ! !
Keith Givens, 23, graduate engineer, Reading
I view the timing of the announcement with contempt because it can only be seen as a stunt, but I feel that the spirit is in the right place. I only hope that the legislation connected with the bond prevents the use of the ultimate nest egg for anything but the benefit of the individual.
Paul Russell, 42, customer service director, London
I guess at least this way future generations can be sure there will be some money (although no doubt not enough) available to them when they go to university. This is preferable to them being encouraged to go to university only to have the government saddle them with debt and them pat itself on the back for 'helping more youngsters into higher education'.
Steven Beckett, 25, graduate engineer, Surrey
I think the idea of a 'baby bond' scheme for new borns is excellent. The first question I have though is will it be backdated for babies born in November 2000 (I speak as the father of a six-month-old baby boy)? It would be an excellent way of providing something for all children born in the UK, regardless of their parents' wealth.
Kevin McFarlane, 35, construction engineer, Stratford
With elections coming up, it appears that a positive idea has been turned into an election gimmick. The timing is all wrong, especially after so many complaints from people about taxation. It seems that the government is trying to 'give something back' to draw attention from the taxation complaints and also to win some extra points before the election. I am not convinced this idea is a result of genuine concern, as it has not been thought through properly and it is so close to election time.
Natalie Kalfa, 25, civil engineer, Midlands