Part of Children’s Wellbeing and Schools Bill – in a Public Bill Committee at 3:15 pm on 28 January 2025.
I thank the shadow Minister for that. Data will be shared to other parties as part of the financial oversight scheme. It is worth saying that the Department will share with local authorities which providers meet the financial oversight conditions and are subject to the financial oversight scheme. That is to support their local sufficiency and contingency planning.
To ensure that commercially sensitive information is kept confidential, we will not share any provider information submitted as part of this scheme with local authorities or the sector. The Department will use this information to make an assessment of financial risk and issue an advance warning notice to local authorities where there is a real possibility that financial risk could lead a provider to cease operating.
Finally, where providers or their corporate owners, as I mentioned earlier, breach the requirements of this scheme, the Department will publish information on civil monetary penalties imposed. That is to be transparent about providers who fail to comply with the scheme.