World's largest fund of its kind to support vulnerable children and families
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Chancellor launches new £500m Fund to break down barriers to
opportunity for up to 200,000 vulnerable children and young people
and deliver Plan for Change. World's largest fund of its kind will
boost pupil achievement and could fund programmes to reduce
reoffending or provide specialist workers for children struggling
with exclusion, mental health or crime. Better Futures Fund will
run for ten years, with plans to raise another £500 million from
local government,...Request free trial
Struggling and vulnerable families and children are to be given a better start in life after a new government fund was announced today (Monday 14 July), which will provide them with the support and funding needed to access a better education, a safe home, and the caring supportive environment they need to flourish. The Better Futures Fund will support up to 200,000 children and their families over the next ten years by bringing together government, local communities, charities, social enterprises, investors, and philanthropists to work together to give children a brighter future. It could fund providing support in schools to improve attendance, behaviour and overall achievement of pupils, intervening to free children from a life of crime, and offering employment support to secure their futures. The fund, which is the largest of its kind in the world, will be launched by the Chancellor of the Exchequer Rachel Reeves at a visit to a school today in Wigan, hosted by the charity AllChild. It could fund providing support in schools to improve attendance and behaviour, intervening to free children from a life of crime, and offering employment support to secure their futures. By investing in early support to tackle challenges like school absence, addiction and re-offending, the fund will help give children the stability and opportunity they need to thrive – delivering on a key part of the Prime Minister's Plan for Change to give every child the best start in life. It comes ahead of the government hosting the first Civil Society Summit this week, where the government will set out a comprehensive plan on how this government will partner with experts from outside the traditional corridors of power to create solutions that work for real people – all through the principles of fairness, collaboration and trust. Chancellor of the Exchequer Rachel Reeves said: “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.” Culture Secretary Lisa Nandy said: “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." Social Outcomes Partnerships have already been used with success across the UK, with over 180 commissioners using the model across the country. The Greater Manchester Better Outcomes Partnership (GMBOP), for example, works with young adults in the Greater Manchester area who are at risk of homelessness. AllChild's projects have already halved persistent school absences, and 80% of children have improved emotional wellbeing. Other programmes like the Skill Mill offer paid work experience and qualifications, reducing reconviction rates from 63% typically to 8% and three quarters of those in the programme progress to further employment, education or training. This fund is a big step in the government's work with the impact economy - unlocking extra resources from philanthropy, social investors and businesses to tackle urgent social challenges. Today's announcement comes as the government's Child Poverty Strategy is to be published in autumn to ensure it delivers fully funded measures that tackle the structural and root causes of child poverty across the UK. The launch is backed today by groups including Save the Children UK, The King's Trust and Oxford University's Blavatnik School of Government. Today's announcement is informed by consultation with the Social Impact Investment Advisory Group and other representatives from civil society, purpose-driven business, and local government. Over the coming months Government will build on this and develop a strategic approach to working with the impact economy, who have long played an important role across the UK economy in unlocking innovation, driving inclusive growth and strengthening community resilience. Chief Secretary to the Treasury Darren Jones said: “Partnering with impact capital to tackle child poverty was a personal priority for me coming into government - which is why I set up the Social Impact Investment Advisory Group to advise on the development of this brilliant fund, which we've been delighted to support as a government. I'd like to thank Dame Elizabeth Corley for chairing the group and all the members for their hard work.” Louisa Mitchell MBE, Chief Executive Officer, AllChild said: “I warmly welcome the government's Better Futures Fund as a pivotal step toward transforming how we support children and families across the country. It's vital that children engage with the right support and opportunities, at the right time, in the right way. Holistic support that is rooted in each child's local community, builds on their strengths, and places trust and relationships at the heart of delivery. “I hope this fund will be a catalyst for a new way of working - one which prioritises prevention, shared accountability for locally identified outcomes, and genuine cross-sector partnerships. This is how we can ensure every child no matter where they live has the support and opportunities they need to flourish.” Richard Rigby, Head of UK Government Affairs, The King's Trust said: “At The King's Trust, we know that timely support can change the course of a young person's life. Potential is everywhere but opportunity is not. The Better Futures Fund is an investment in the potential of young people who are too often left behind. We welcome this commitment to early intervention and collaboration with organisations like ours to tackle inequalities and help young people build brighter, more secure futures. By getting behind young people, we can all help to make the UK a healthier, wealthier, more positive and cohesive place.” Further details on the fund will be set out in due course. It will be delivered by the Department for Culture, Media and Sport. Notes to editors Further information:
Stakeholder quotes: Dame Elizabeth Corley, Chair, Social Impact Investment Advisory Group said: "The UK's impact economy mobilises hundreds of billions of pounds to address our most pressing societal challenges. Today's announcement signals the Government's recognition of this thriving sector and its intent to unlock transformative change through innovative partnerships. We look forward to deepening this collaboration in the months ahead.” Dominic Llewellyn, Head, Impact Economy Collective said: “The Better Futures Fund is a world-leading commitment to the lives of vulnerable children — and a powerful example of how government can partner with the impact economy to deliver lasting change. By working with philanthropy, social and impact investors, purpose-driven business and civil society, government can turbocharge solutions that are rooted in communities, drive inclusive growth, and tackle our most pressing social and environmental challenges Sir David Holmes CBE, Chief Executive Officer, Family Action said: “Family Action welcomes the announcement of the Better Futures Fund and its important focus on early help. We know through our own work across the country how vital it is for vulnerable children, young people and families to receive the right help, in the right way and as early as possible before problems escalate further. Family Action has accessed social outcomes funding on several occasions in the past to deliver high impact programmes that have changed people's lives, and we are excited about the opportunities the Better Futures Fund will unlock to do even more David Parks OBE, Founder, The Skill Mill said: “The Better Futures fund marks a real shift in how we support underserved young people and families. By moving the focus from inputs and activities to meaningful person-centred outcomes, we create more impact for individuals and better value for society. At The Skill Mill, we've seen the transformation in the young people who have offended and how much they value the second chances they have been given. Partnering for outcomes holds the key to creating support and programmes that really work, solving some of society's biggest challenges. Everyone wins.” Stephen Muers, Chief Executive Officer, Better Society Capital said: “The Government's launch of a £500 million Social Outcomes Partnerships Fund is a welcome and encouraging step in providing better outcomes for children, young people and families in the UK. The new fund brings together a strong collaboration between government, local communities, impact investors and philanthropists to deliver better outcomes for children and their families — ensuring they have a safe home, access to better opportunities, and a caring support environment. “The Government's endorsement of outcomes-based commissioning through the world's largest fund of its kind will hopefully generate even more momentum towards using social impact capital and partnering with the impact economy to address complex societal challenges, and we're confident that this early commitment will unlock further public and private investment in the future. “We welcome this commitment and look forward to working with partners across sectors to ensure this opportunity realises its full potential for children, families, and communities across the UK and supports the delivery of the Government's Plan for Change." Dan Paskins, Executive Director of Policy, Advocacy & Campaigns, Save the Children UK said: “The Better Futures Fund will be an excellent building block of the UK government's forthcoming Child Poverty Strategy. From our work with families, we know great things can be achieved when national and local government come together with communities to find innovative solutions to tackling poverty. We hope this programme will break down the barriers facing families and enable children to thrive." Ngaire Woods, Founding Dean, Oxford University's Blavatnik School of Government said: "We warmly welcome the announcement of the Better Futures Fund, a bold endeavour to tap into the power of collaboration with civil society and the impact economy, building on the UK's pioneering fifteen year history of these partnerships. As we have seen from our evaluation of the Life Chances Fund, if well designed these partnerships can inspire innovation, collaboration and prevention to deliver value for money and improve the lives of communities." Mila Lukic OBE, CEO and founder of Bridges Outcomes Partnerships, commented: “Better Futures fund indicates the UK Government's ambition to seriously address systemic challenges which have historically been reinforced by taking a one-size-fits-all approach to solutions. By choosing to fund person-centred, outcomes-focused delivery, the Government is backing a more flexible, personalised, local, and collaborative approach to public service delivery. “The fund aims not only to significantly improve the life chances of our young people; I'm hopeful it will foster innovation and encourage new, preventative, data-led solutions to complex social issues, for those who need it most.” Kieron Boyle, Chair of the Impact Investing Institute said: “The Better Futures Fund will make a huge difference to hundreds of thousands of families. It's a bold demonstration of how the UK is mobilising public, philanthropic and private capital to tackle the country's biggest challenges. By backing early intervention and outcome-based partnerships at scale, this fund shows the potential of impact capital to bring fresh solutions — and to inspire similar efforts around the world Robert Pollock, Chief Executive Officer, Cambridge City Council said: “I'd really encourage local authorities, as place leaders in their areas, to get involved in and actively support the Better Futures fund. It's a great opportunity to co-design place based partnership that put the voice of children and young people at their centre “The evidence demonstrates when we work together, give space for innovation and really listen to young people that they can achieve better outcomes." Matt Hyde, CEO of the Lloyds Bank Foundation, said: "Working across sectors is the only way we can ensure everyone is in a good place. By bringing together a collective of governments and civil society organisations, and by embracing new forms of financing that social impact investors and philanthropists can bring, the Better Futures Fund can set a new standard for how we transform lives together." |