THE UK government on Sunday launched a £500 million Better Futures Fund aimed at supporting up to 200,000 vulnerable children over the next 10 years.
According to the government, the fund will focus on helping struggling families by improving children's access to education and ensuring a safe home environment.
The announcement comes as prime minister Keir Starmer and chancellor Rachel Reeves face calls from Labour Party lawmakers to expand support for low-income families.
Earlier this month, Starmer was forced to scale back key parts of his welfare reform plan to secure parliamentary approval.
"This fund will give hundreds of thousands of children, young people and their families a better chance," Reeves said in a statement. "Our 'Plan for Change' will break down barriers to opportunity and give them the best start in life."
The finance ministry also said it plans to raise another £500million through contributions from local government, social investors and philanthropists.
Mel Stride, finance spokesman for the opposition Conservative Party, welcomed the funding but criticised Labour's economic approach, saying it had harmed struggling families.
The government is also reviewing the two-child limit on welfare payments to parents as it considers changes to several unpopular policies following a drop in its poll ratings.
(With inputs from agencies)
Devotees and visitors admire the annakut during the event
