MANCHESTER, England - Britain on Sunday announced a 500 million pound ($675 million) fund intended to help up to 200,000 vulnerable children.

The Better Futures Fund aims to provide support for struggling families and give children access to better education and a safe home over the next 10 years, the government said.

Prime Minister Keir Starmer and his finance minister Rachel Reeves are under pressure from their own Labour Party lawmakers to provide more support for low-income families.

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Earlier this month, Starmer was forced to gut key parts of his welfare reform plan in order to pass legislation through parliament.

"This fund will give hundreds of thousands of children, young people and their families a better chance," Reeves said in a statement.

"Our 'Plan for Change' will break down barriers to opportunity and give them the best start in life."

The finance ministry said it planned to raise another 500 million pounds from local government, social investors and philanthropists.

Mel Stride, finance spokesman for the opposition Conservative Party, said he welcomed the new funding but said Labour's economic policies had hurt struggling families.

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The government is also considering whether to abolish a two-child limit on welfare payments to parents as it reassesses several unpopular policies to reverse a slide in its poll ratings.