'Backing the Future' provides the economic and social case for transforming the way we invest in the future of society through our children...

The report by the charity Action for Children and the New Economics Foundation makes clear the need for a comprehensive investment programme in preventative services for children and young people that would both save spending on dealing with the impact of problems later, and deliver wider benefits to society. To achieve lasting change, 'Backing the Future' demonstrates why it is essential to address the impact of the structural factors affecting the circumstances of children’s lives, such as poverty and inequality, together with psychological and social dimensions of their well-being. Evidence of the need for decisive action by national governments is compelling. When compared with our European neighbours, the UK comes bottom of the pile on almost every preventable social problem – crime, mental ill health, family breakdown, drug use, or obesity. The analysis shows that the UK has to spend a third more in addressing the consequences of its social problems than the next most troubled nation. But the costs are not only economic. The prevalence of these social problems has a direct impact on how children experience their lives and on the cohesiveness of our communities. This means that the UK has some of the lowest levels of child well-being when compared with countries of similar economic wealth, and across social and psychological dimensions.

Yet is it so hard to imagine a different future? A future where all children feel loved, are free from poverty, have supportive relationships with other children and adults, feel happy and safe, and are free to imagine and explore as they journey through their local neighbourhoods. A future where all children feel valued; where they give their ideas, time, passions, and their creativity to everyone they meet and to all that they do. A future where the UK no longer languishes at the bottom of international rankings of child well-being and indices of social dysfunction. The report demonstrates that investing more in children is necessary, economically viable and a better use of public money in the long run. The cost to the UK economy of continuing to address current levels of social problems will amount to almost £4 trillion over a 20 year period. This includes addressing problems such as crime, mental ill health, family breakdown, drug abuse and obesity. Investing in a package of support, including targeted interventions and universal childcare and paid parental leave, could help address as much as £1.5 trillion worth of the cost of these social problems. This would leave the UK in a similar position to European nations such as Finland, Sweden and Denmark which have the best social outcomes.

The report shows how this can be achieved and presents an economic model for how the UK Government could fund a transition to a more preventative system, therefore turning aspiration into reality.If you want to read the report visit their website at http://www.neweconomics.org. Chris