Looking at all key areas of the lives of children and young people, and most Government departments, this article reviews the research evidence on the benefits and costs of increasing investment in children, and a redirection of some economic policies that have an indirect impact on children. It concludes that much more could be done to enhance the well‐being of children, but it would need a willingness to increase both public spending and taxation. It is based on ‘All Our Futures: the Impact of Public Expenditure and Fiscal Policies on Britain's Children and Young People’, commissioned and published by Barnardo's (Holtermann,