The money will be used to back a vision of the opportunities that should be available to all children and young people, unveiled in the Children’s Plan.
Launching the plan, Children’s Secretary Ed Balls said the aim is to support parents and families to deal with the challenges faced by young people in the 21st century.
“The Children’s Plan marks the beginning of a new relationship in which government commits to working with families and their children and making sure their needs come first,” he said.
“This isn’t about nanny state intervention or telling parents what to do. We know the government doesn’t bring up children, families do.”