Izzy Lepone 14 July 2025

Rollout of £500m fund to support young people

Rollout of £500m fund to support young people image
Chancellor Rachel Reeves speaking at the Labour Party Conference in 2023, smiling at a podium with a red and white backdrop. © Martin Suker / Shutterstock.com.

Chancellor Rachel Reeves is due to announce the launch of the Better Futures Fund, a £500m initiative to help reduce youth poverty.

Chancellor Reeves will today reveal a £500m funding boost for charities and civil society organisations, enabling greater investment in youth services and strategies to combat child poverty, according to The Guardian.

The 10-year scheme is designed to support young people facing hardships such as mental health issues, school absence, crime risk and addiction.

Chancellor Reeves said: ‘I got into politics to help children facing the toughest challenges. Today’s Better Futures Fund will give hundreds of thousands of children, young people and their families a better chance in life.’

To develop the initiative, the Government is hoping to receive an extra £500m of contributions from local authorities and investors.

Culture secretary Lisa Nandy added: ‘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.’

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