The Rest Is Money

93. The Children's Homes Scandal

Sep 15, 2024

The disturbing commercial takeover of children's care homes is unveiled, revealing how profits often overshadow the well-being of vulnerable kids. Personal testimonies highlight systemic failures and abuses, raising urgent questions about current policies. The adverse impact of private equity on care quality and the alarming placement of children far from their families are discussed. The need for public ownership and collaborative solutions to improve service delivery is emphasized, along with a glance at political dynamics affecting education reforms.

41:53

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Quick takeaways

The podcast reveals a concerning trend where funding for children's residential care is diverted from preventative family support, resulting in inflated costs and poor outcomes.

Private equity ownership of children's homes raises serious concerns over care quality and profit-driven motives, calling for significant systemic reforms in the sector.

Deep dives

The Rise of Private Children's Homes

The podcast details a significant increase in the number of children in residential care, which has doubled over the past 12 years to approximately 16,000 children. This surge coincides with a dramatic 90% rise in the costs associated with their care, leading local authorities to spend between £10,000 and £30,000 weekly on each child. The alarming trend shows that four out of five children's homes are now privately owned, with many of these homes generating substantial profits. While some may argue that private companies can improve service through competition, evidence suggests that care standards in for-profit homes often fall short of expectations.

Intro

2min

Profit vs. Care in Children's Homes

17min

The Cost of Care: Private Equity and Vulnerable Children

5min

The Crisis in Children's Care Homes

12min

Rethinking Ownership of Children's Homes

3min

Closing Discussions and a Glimpse into Trump's 2016 Campaign

2min

A special episode on the hundreds of millions of pounds of profit disappearing out of our children's homes and into the hands of private investors. With four out of five owned by private companies, and some ultimately owned by private equity firms and sovereign wealth funds, Robert and Steph look at why our cash strapped councils are forking out so much and what needs to be done to make sure our most vulnerable children are not losing out.

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goalhangerpodcasts.com

Assistant Producer: India Dunkley

Producer: Ross Buchanan

Head of Content: Tom Whiter

Exec Producers: Tony Pastor + Jack Davenport

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