FAMILIES in Worcester are being encouraged to save for their children's future - and the Government will be kick-starting bank accounts with a minimum £250 payment.

The Child Trust Fund (CTF) - which was officially launched this week and will start in April - is a Government initiative which will see every child born in the UK on or after September 1, 2002 receive a voucher worth either £250 or £500, depending on the family's financial circumstances.

The Chancellor of the Exchequer Gordon Brown, who launched the CTF on Monday with Minister for Children Margaret Hodge, said the aim is for a Britain of ambition and aspiration where all children have the best possible start in life.

"The Child Trust Fund is designed to ensure that every child in our country has assets and wealth and that no child is left out and all children in Britain have a stake in the wealth of the nation," he added.

Seventy-five providers and distributors have already signed up to the scheme - which Mr Brown said was a powerful symbol that a wide range of firms share the Government's vision for a strengthened savings culture.

Each year, family and friends may contribute up to £1,200 to the tax-free CTF and on the child's seventh birthday, the Government will make a further contribution.

At the age of 18 years the CTF will attain the age of maturity and the child will have unrestricted access to the accumulated fund - which could, by then, be worth in excess of £25,000 if the maximum contribution is maintained.

A major Child Trust Fund advertising campaign including TV, radio, press and posters will be launched on Monday in a bid to create awareness.

CTF vouchers will start being issued next week.

What would you have done if you had a £25,000 pot to dip into when you were 18?

The Evening News went out on to the city streets to ask shoppers their opinions on the CTF.

"I'd have bought a car if I was given £25,000 when I was 18," joked mum Christina Solomou, from Farne Avenue, St Peter's.

"It sounds like a good idea though," added the 29-year-old.

Twenty-five year old dad John Willock, of Gresham Road, Dines Green, thought the CTF was an excellent idea.

"My mum started up a private version for me when I was a child, and it helped having access to the money to get on my feet.

"If parents and people like teachers, provide proper guidance, the money should be spent properly," he said.

Marion Raxter, aged 66, from Stensham, south of Worcester, said there were two ways of looking at the trust fund.

"There are millions who would spend it wisely - on education or to buy their own pad, but there are also those who would waste it.

"If I was given a £25,000 cheque I would probably go 'yippee!'"

Student Tim Gaylard said he would have used the money wisely.

"It's a good idea for the Government to do this. If I had the money, I would put it towards my education," said the 16-year-old from Bransford Road, St John's.

Sam Carr, aged 26, from Pitchcroft Lane, Barbourne, thought the CTF worthwhile.

"It's a good idea to start saving for people as soon as they're born, but I'm sure there will be some people who won't use it as they should."

But Derek Taylor was sceptical.

"The money wouldn't have lasted long. I would have spent it on drinking, going out and in clubs - I'm sure there are kids around today who would have acted just like me," said the 54-year-old from Henwick Road, St John's.