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The difference between Child Trust Funds and Junior ISAs

There are hopes the Chancellor will announce changes to Child Trust Funds which were automatically created by the government for children born between 1 September 2002 and 2 January 2011.

Although the accounts are tax free, many complain that interest rates are poor and they cannot transfer the money to other schemes, such as the replacement Junior ISAs .

Editor of comparison website Moneyfacts.co.uk Sylvia Waycot told BBC Breakfast the "big difference" in rates was unfair which could deter young people from saving in the future.

Go to next video: Why is Junior Isa uptake so low?