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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