Market in England is ‘broken’ and ‘failing too many children’, says chair of independent review
Private providers of children’s homes and foster care are making “significant and persistent” profits by charging cash-strapped local authorities “elevated prices” for increasingly scarce placements, the Competition and Markets Authority (CMA) has warned.
The largest private providers of children’s homes are now charging councils an average of £3,830 a week per child, with an average operating profit margin of 23%, according to the CMA’s interim report on children’s social care.
