Social Impact Bonds

Department for Digital, Culture, Media and Sport written question – answered on 14th November 2018.

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Photo of Steve Reed Steve Reed Shadow Minister (Digital, Culture, Media and Sport) (Civil Society)

To ask the Secretary of State for Digital, Culture, Media and Sport, what estimate his Department has made of the savings social impact bonds have made to the public purse since 2010.

Photo of Mims Davies Mims Davies Assistant Whip (HM Treasury), The Parliamentary Under-Secretary of State for Digital, Culture, Media and Sport

Social Impact Bonds have been used by a range of commissioners, both national and local, to commission public services. DCMS has not estimated total savings delivered to the public purse using Social Impact Bonds since 2010.

Several Social Impact Bond programmes have been independently evaluated and some of these evaluations estimate savings. The Government Outcomes Lab, a partnership initiative between DCMS and the Blavatnik School of Government at Oxford University, provides links to SIB evaluations in their online publications library.

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