Reeves to launch £500m fund to help vulnerable children
It will be used to help struggling and vulnerable children and their families with a variety of problems they face.
This could include early support to tackle challenges such as school absence, mental health issues, addiction and falling into a life of crime.
The fund will run for 10 years, and ministers plan to raise a further £500 million from councils, investors and philanthropists to top up the Government's cash.
The Chancellor will launch the initiative on Monday, as she visits a school in Wigan.
Ahead of the visit, Ms 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.'
The fund will be overseen by the Department for Culture, Media and Sport, and more details about how it will work will be released in the near future, according to the Government.
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.'
The launch is backed by groups including Save the Children UK, The King's Trust, and Oxford University's Blavatnik School of Government.
Elsewhere, ministers will host the first civil society summit this week, which aims to hammer out a plan for how Government will better work alongside charities and other organisations outside of the world of Westminster to the benefit of the public.
Sir Mel Stride, the Conservatives' shadow chancellor, said the Government's plans would 'build on the Life Chances Fund – a Conservative policy that supports families and vulnerable children'.
He added: 'But Labour's jobs tax has pushed up unemployment and prices, trapping more children in workless, struggling homes.
'Labour are taxing work, choking growth, and driving families into hardship.
'Under Kemi Badenoch, the Conservatives back the makers – protecting public finances, supporting working parents, and making sure hard work pays.
'Britain deserves a government that rewards effort, not one that penalises success.'
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