Financial oversight and profit capping reforms to the children’s residential care market may fail to reduce costs for local authorities and could increase market instability, the Chartered Institute of Public Finance and Accountancy (CIPFA) has warned.
The Children’s Wellbeing and Schools Bill, which contains measures to tackle profiteering, including a backstop law to potentially cap profits, is currently in its final Parliamentary stages, with the House of Commons due to consider amendments proposed by the House of Lords.
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