Privitisation of children's services: the private equity firm SSCP Spring Topco, which owns dozens of foster care agencies and children's homes in the UK, is now being paid more than £364 million a year by local authorities, according to it latest accounts. 1/
This firm owns many of the biggest names used by local authorities (including NFA, Acorn, Options, Bryn Melyn, Hillcrest). It continues to buy up smaller rivals, at substantial cost. 2/
The company now has debts of almost £800 million. Much of this is arranged at high interest rates (eg 14%). Interest charges are paid for from funds intended for care and support. Banks before children. 3/
Look at the excess of net liabilities over net assets. This is offshore financial engineering, which exploits the increasing vulnerability of large sections of society. As support and early intervention is cut, their profits grow.
4/
Since the year-end, the company has acquired Bryn Melyn and Wessex College. More takeovers are likely. 5/
The company is held offshore, to avoid or minimise tax. The UK Government and local authorities are complicit in supporting tax avoidance, even in the care of children.

6/
The chair is Douglas Quinn, who has made millions out of the privatisation of care.
The accounts are prepared on a going concern basis, which means that the business is facing financial distress but is still able to make payments to keep it operating.

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More from @MartinBarrow

20 Jun
Something I've struggled to articulate these past few days is the profound impact that the narrative of child protection being institutionally biased against families has on foster carers. 1/
It is our experience that many people in the community regard us simply as agents of social services. At best, they are indifferent, at worst they are hostile. 2/
This can happen at the school gate, in shops, during after school activities...pretty much anywhere. 3/
Read 6 tweets
19 Jun
Children's home inspection reports uploaded today by Ofsted include six that are failing to provide 'good' care. All but one of the homes are owned by private providers. Two are inadequate.
One of the inadequate homes is provided by @BarnardosNews and it seems to be a truly abysmal home to live. Image
Read 5 tweets
15 Jun
As a society we have made choices (around employment, housing, healthcare, the legal system). These choices have consequences. Child protection social workers deal with these consequences. 1/
Blaming child protection social workers for the rise in the number of childrenin care is grotesque. To characterise child protection as a 'runaway train' fuelled by social workers who just 'wade in' is also grotesque. 2/
I would gladly give everything I have in return for there being no children in care. But as foster carers we have yet to provide sanctuary to a child who did not need to be in care. 3/
Read 7 tweets
13 Jun
Josh MacAlister has publicly criticised child protection social workers for being overreaching and intrusive, institutionally biased against families.
His #carereview wants to halt the "runaway train" of child protection, which he blames for taking too many children and young people into care.
This is a huge call for a review which has been in place for just three months and is thinly staffed. But the direction of travel is clear. Social workers should back off.
Read 15 tweets
11 Jun
Local authorities have handed responsibility for many vulnerable children to voracious private equity firms. The consequences are catastrophic. 1/
Ofsted has just published an inspection report into a home for children in care owned by Radical Services Ltd, a subsidiary of the private equity firm Ardenton Capital.
2/
It is judged inadequate by every measure. Image
Read 13 tweets
11 Jun
This @CommunityCare
article casually cites the National Centre for Excellence in Residential Child Care (NCERCC) and Revolution Consulting as impartial observers when they are, in fact, as one with the privatisation lobby group #ICHA
communitycare.co.uk/2021/06/11/cut…
In fair, they are quoting Josh MacAlister. But somebody needs to call this stuff out, honestly.
Children's services are increasingly in the pocket of private providers. Yesterday's event was a good example of the closeness between them. Much back-slapping and talk about partnership, notwithstanding MacAlister's speech.
Read 4 tweets

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