As a foster carer, I've witnessed firsthand the challenges that arise when children move from one carer to another. Currently, when children leave a carer's home, transferring their bank accounts is a complex and often problematic process. Many banks close accounts and send money over, which can lead to funds being mismanaged or lost. This isn't just an administrative inconvenience—it impacts the financial stability and future opportunities for these vulnerable children.

Imagine if every child entering into care had an Individual Savings Account (ISA) opened in their name the moment they came into care. This account would follow them throughout their journey, from childhood to adulthood. Each child would have a dedicated account number, ensuring that their savings are safe and secure until they reach the age of 18—a critical period when they can truly benefit from financial independence.

This proposal would allow not only local authorities and agencies but also friends, family members, and carers to contribute easily to each child's savings. It's a straightforward solution designed to ensure that these children, who have already faced numerous challenges, have a solid financial foundation from which to build their futures.

Statistics show that children who have stable finances as they transition out of care are more likely to pursue higher education, secure stable housing, and lead successful, independent lives. According to research by the University of Bristol, young people leaving care are three times more likely to have difficulties financially compared to their peers.

We need a system where all stakeholders—be it local authorities, banks, or carers—commit to these children's futures by providing them with secure, accessible savings accounts. This change could radically improve the prospects for thousands of cared-for children by giving them the tools to succeed long-term.

Join us in urging local authorities and banks to create and manage ISAs for all children as soon as they enter care. Let's make sure every child in the care system gets the financial support and stability they deserve. Sign this petition to help us make this vital change a reality.