Children’s Care Homes: Private Equity

Baroness Bennett of Manor Castle Excerpts

Tuesday 30th January 2024 Lords Chamber

[Baroness Barran (Con)]

The noble Lord will be aware that the Competition and Markets Authority has already done a great deal of work in this area and has made recommendations which are behind our commitment to a much clearer market oversight regime. We will bring forward legislative changes to enact that when parliamentary time allows.

[Baroness Bennett of Manor Castle (GP)]

My Lords, I will follow on from the question of the noble Lord, Lord Sikka, about value for money. The Minister said that the Government are against profiteering but not against profit. What actual value is added by having private sector companies involved in this sector, when we should see all the public money that is being spent going into the care of children, and not into profits?

[Baroness Barran (Con)]

The first thing—whether the noble Baroness agrees or not—is that it provides an enormous amount of capacity, and in her zeal to address the profitability of the sector we need to consider also the stability of those placements for children.