FF derides ‘baby bond’ as election stunt

LABOUR leader Pat Rabbitte’s promise of a ‘baby bond’ of €1,000 for every child born in Ireland was yesterday dismissed by Fianna Fáil as an election gimmick.

Mr Rabbitte’s eye-catching policy initiative, unveiled during his leader’s address to Labour’s national conference, will result in €1,000 being invested on behalf of every newborn Irish citizen with the National Treasury Management Agency (NTMA).

Those benefiting from the investment would be entitled to access the funds at the age of 18.