The government have announced a 10 year fund aimed at boosting pupil achievement, supporting children with mental health issues, and reducing reoffending rates amongst young people in what is described as a ‘groundbreaking’ initiative bringing government, local communities, charities, social enterprises, investors, and philanthropists together to give children a brighter future.
The Better Futures Fund will invest £500m into breaking down barriers to opportunity for up to 200,000 vulnerable children and young people – the largest fund of its kind in the world say Labour. Launched alongside Save the Children UK, The King’s Trust and Oxford University’s Blavatnik School of Government, amongst others, it is hoped a further £500m could be raised from from local government, social investors, and philanthropists.
Examples of how the money could be spend include providing support in schools to improve attendance, behaviour and overall achievement of pupils. It could also be used to tackle young offending and offer employment support by offering early intervention opportunities to help give children the stability and opportunity for the best start in life.
“I got into politics to help children facing the toughest challenges. This fund will give hundreds of thousands of children, young people and their families a better chance. For too long, these children have been overlooked. Our Plan for Change will break down barriers to opportunity and give them the best start in life.”
said Chancellor of the Exchequer Rachel Reeves.
Culture Secretary Lisa Nandy added:
“This groundbreaking Better Futures Fund represents a major step in partnering with the impact economy, which has long played an important role in strengthening communities and driving inclusive growth. As part of the Plan for Change, we’re bringing together government, local authorities, charities, social enterprises and philanthropists to create a powerful alliance that will transform the lives of vulnerable children and young people.”
“We owe them the best start in life. Together we will break down barriers to opportunity, ensuring those who need support most aren’t left behind and have the chance to reach their potential.”
The government say the fund mirrors the work of some 180 Social Outcomes Partnerships already in operation across the country and, unlocking extra resources from philanthropy, social investors and businesses to tackle urgent social challenges. A Child Poverty Strategy is to be published in the autumn aimed at tackling the structural and root causes of child poverty.
Further details on the fund will be set out in due course. It will be delivered by the Department for Culture, Media and Sport.
