Children’s Care Homes: Private Equity

Baroness Wilcox of Newport Excerpts

Tuesday 30th January 2024 Lords Chamber

[Baroness Barran (Con)]

We have announced our new social care strategy. The noble Lord will be aware of the independent review of children’s social care, which we have acted on. We are now starting to implement the initial pathfinder sites to test our new family-led approach to social care. As he said, these are vulnerable children and families, so we need to do this judiciously.

[Baroness Wilcox of Newport (Lab)]

The Minister previously spoke of bringing in financial oversight to children’s social care. Figures from PoliticsHome show that the average placement now costs £281,000, which has risen by 25% over the last two years. Clearly, swift steps need to be taken to bring down those costs. She has previously alluded to the money going in, but can she be clear about the timeline for a new financial oversight regime and how it will help?

[Baroness Barran (Con)]

As I said, bringing forward the legislative changes necessary to implement a new regime depends on parliamentary time. However, we are not wasting any time in trying to support the foster market, for all the reasons that noble Lords have already set out.