awarded last week to National Savings and Investments (NS&I), which will
be the sole operator to deliver the childcare accounts when the scheme
is introduced in autumn 2015.
The move was a blow to childcare voucher provider companies that had won a legal challenge for a second Treasury consultation on who would run the scheme after the Government initially chose NS&I.
The current voucher schemes will be phased out and closed to new entrants when TFC is brought in.
The Childcare Voucher Providers Association (CVPA) said it was 'obviously disappointed' by the decision and that opening the market to other providers would have provided a better solution for parents and taxpayers.
Fiona Shields, chair of the CVPA, said, 'We believe, and we have consistently made this clear to Government, that there are some serious design flaws with TFC, which could impact the operation and benefits of the scheme for parents, childcare providers and, of course, the taxpayer.
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