Councils flag concerns about excessive profits at children's homes. Story via @patrickjbutler
@guardian
Great to see privatisation of children's services making headlines 1/
theguardian.com/society/2021/j…
@guardian
Great to see privatisation of children's services making headlines 1/
theguardian.com/society/2021/j…
As many followers know, reported profits are just part of the story. Serious money is also being made by private equity by loading theses businesses with high interest debts and management fees.
Think Wonga.
Think Wonga.
The most urgent concern is not profit but the way children and young people are treated. The latest example of abuse and neglect concerns Care 4 Children Residential Services
https://twitter.com/MartinBarrow/status/1354863271912861698?s=19
The LGA reports can be found here:
local.gov.uk/private-equity…
local.gov.uk/private-equity…
A warning: one report is by Revolution Consulting, which has close links to private sector providers via the Independent Children's Homes Association. I think the report, though welcome, significantly understates how toxic these arrangements are.
Finally, this is not just about private equity. There are many other owners plundering children's services, including one company on the London stock market.
A final finally...once again the focus is on children's homes. But about 80% of children and young people in care live in foster homes. Increasingly, foster care is also being privatised, sold to the same owners as children's homes.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
