Councils flag concerns about 'excessive profits' at children's homes

Local Government Association calls for financial oversight of privately run facilities

Councils have called for financial oversight of England’s privately-run children’s care homes after research showed some of the biggest private equity-owned providers were collectively making hundreds of millions a year in profits.

The Local Government Association (LGA) also warned that the increasing indebtedness of some of the largest private providers risked triggering a Southern Cross-style financial collapse, potentially leaving vulnerable children without a home.

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from The Guardian https://ift.tt/3acxx43