Darren Jones, the UK Treasury chief secretary, is launching a £500m 'social outcome partnership' over a decade, alongside private backers, to fund grassroots projects tackling child poverty. This initiative is deeply personal to him, inspired by his own upbringing on a deprived council estate that benefited from New Labour support, and aims to find innovative ways to address social issues despite fiscal constraints.
‘It’s very personal to me’: Darren Jones on his £500m plan to fight child poverty
Darren JonesPoliticsUKLabourRachel ReevesPat McFaddenSocietyPoverty
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TL;DR: Key points with love ❤️Darren Jones, the UK Treasury chief secretary, is launching a £500m 'social outcome partnership' over a decade, alongside private backers, to fund grassroots projects tackling child poverty. This initiative is deeply personal to him, inspired by his own upbringing on a deprived council estate that benefited from New Labour support, and aims to find innovative ways to address social issues despite fiscal constraints.
Trending- 1 Last summer: Darren Jones arrived in the Treasury.
- 2 Last year: Social impact investment advisory group set up by Jones.
- 3 Last month: Fraught spending review concluded.
- 4 Earlier this month: Bookmaker Coral touted Jones as a potential successor to Rachel Reeves.
- 5 This week: Office for Budget Responsibility warned on UK public finances.
- 6 July 13, 2025: Jones announces the £500m child poverty plan.
- 7 Summer (current): The advisory group, initially due to wind down, will now continue.
- 8 Autumn (future): Rachel Reeves's autumn budget is expected.
- 9 Next decade: The £500m investment will be rolled out.
- Potential for significant reduction in child poverty.
- Expansion of social impact investment as a funding mechanism.
- Consideration of new public-private partnerships for infrastructure like neighbourhood health centres.
- Wider use of AI in government as an enabling tool.
- Continued efforts to navigate challenging fiscal circumstances for the UK government.
What: Darren Jones, Treasury chief secretary, is announcing a new £500m 'social outcome partnership' to fund grassroots projects aimed at tackling child poverty.
When: Announced now (July 13, 2025); plan is over a decade; Jones arrived in the Treasury last summer; social impact investment advisory group set up last year; Gordon Brown pioneered social impact investment; elected in 2017; New Labour government (historical context); Office for Budget Responsibility warned this week; bookmaker Coral touted Jones earlier this month.
Where: UK (specifically Bristol North West, Lawrence Weston estate, Whitehall, House of Commons, St James’s Park, London).
Why: Jones is personally motivated by his own experience growing up in a deprived area that benefited from similar programs; the Labour government seeks innovative ways to achieve objectives and improve lives despite challenging economic circumstances.
How: The Treasury will invest £500m over a decade, with private investors matching taxpayer funding for neighbourhood-level anti-poverty projects. Backers earn a modest return only if specific targets (e.g., children into college/university, parents into secure jobs) are met. The social impact investment advisory group will continue to draw up plans for a general template.