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, how much his Department has spent promoting social impact bonds since 2010.

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

DCMS manages expenditure for the £20m Social Outcomes Fund and the £80m Life Chances Fund to promote the development of social impact bonds. These contribute to the cost of outcomes delivered by social impact bond programmes led by local commissioners or other government departments. £19,440,000 had been spent up to 31st March 2018.

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