February 2024

Building on their long-standing partnership, Morgan Stanley and Save the Children UK have announced a new five-year commitment to support families hardest hit by the cost-of-living crisis.

Working with communities in Glasgow and Tower Hamlets, Save the Children UK and Morgan Stanley will support more than 25,000 children aged 0-6 growing up in poverty.

As the cost-of-living crisis hits UK families hard, over half the children in Tower Hamlets and one in three children in Glasgow are growing up in poverty. By the age of three, the average child from a low-income family is 17 months behind their better-off peers, and these inequalities last through school and long into their futures.

The Community Power project will give immediate help to families through emergency grants, delivering learning packs, supermarket vouchers and household essentials, meaning parents can buy food and warm clothes for their children.

The project will also bring together families and local organisations to find and test innovative ways to support children’s early learning and development. These could include therapeutic support for children with disabilities, help with the transition into nursery, or digital skills training for parents to help them access learning resources for their children.

Dan Paskins, Director of UK Impact at Save the Children UK, said: “No child should pay the price of the cost-of-living crisis. Together, working with partners like Morgan Stanley, we can support children living in poverty and ensure they get the chance of a future they deserve. As well as helping families in the short-term with the essentials they need, such as food and warm clothes, our Community Power project will create long-lasting impact for generations to come.”

Save the Children UK and Morgan Stanley have a shared ambition to ensure every child can start school ready to learn and reach their full potential. Using evidence from Community Power, they will look to influence local and national policy and practice so every child in the UK – no matter where they’re born – gets the support they need to thrive.

ENDS

For more information contact: Steph Lowe, st.lowe@savethechildren.org.uk

About Save the Children UK

Save the Children exists to help every child get the chance of a future they deserve. In more than 100 countries, including the UK, we make sure children stay safe, healthy and learning – finding new ways to reach children who need us most. For a century, we’ve stood up for children’s rights and made sure their voices are heard. With children, for children, we change the future for good.

For more information visit www.savethechildren.org.uk