Hundreds of thousands of families are to receive extra support as part of a GBP500m package from the government.

The chancellor, Rishi Sunak, will announce a range of investments to give children the “best possible start in life” during Wednesday’s budget and spending review.

However, Labour declared the package a “smokescreen” for the Conservatives’ “failure” to offer support families in the past.

Sunak said: “I passionately believe that we have a duty to give young families and their children the best possible start in life.

“We know that the first thousand and one days of a child’s life are some of the most important in their development – which is why I’m thrilled that this investment will guarantee that thousands of families across England are given support to lead healthy and happy lives.”

The funding includes around GBP80mworth of spending into creating another 75 family hubs in local authorities across England, which are support centres for families to access services in one place.

A further GBP100m will go towards supporting the mental health of expectant parents, while GBP120m will be invested in other comprehensive family support programmes.

Around 300,000 of the most vulnerable in society will also be supported with an extra GBP200m boost to support people through complex issues that could lead to family breakdown.

Labour said it could not make up for the closure of sure start centre

Kate Green, the shadow education secretary, said the proposals rang hollow, pointing out that thousands of children’s centres have closed since 2010.

She said: “Family hubs are a sticking plaster for a fractured childcare and children services landscape. This supposed commitment rings hollow after 11 years of Conservative cuts have forced the closure of over a thousand children’s centres, cutting off the early learning that sets children up for life.

“This has come alongside the government stripping away early intervention children’s services, allowing problems to escalate into crises.”

She added: “This is a smokescreen for the Conservatives’ failure to deliver for families.”

Alison Morton, executive director of the Institute of Health Visiting, said: “The government needs to go an awful lot further if they want to build back better for our babies and children.”

Neil Leitch, the chief executive of the Early Years Alliance, told BBC Breakfast that while the new government funding was welcome news for struggling families “it beggars belief that there’s not a single reference in this proposal about providing critical support to nurseries, childminders, pre-schools when government knows they’ve been closing their doors in their thousands and yet they are left out of this whole policy”.

He said: “I hope there’s more coming in the spending review, but I do question why would you create another infrastructure of early years support when the existing structure is crumbling around you? And government knows this is the case. So, it’s a bitter pill to swallow, to see all of this and yet the existing system is ignored.”

A recent poll revealed parents feel like they are “drowning” and are “isolated” because of a lack of support during the past 18 months.

More than four in five (82%) of parents say they are struggling with at least one of the warning signs that may indicate parental burnout due to Covid-19.