New Local Outcomes Fund proposed as part of 2015 Spending Review
Social Finance has joined leading charities, sector leaders and social investors in identifying the 2015 Spending Review as a key opportunity to focus public finances more sharply on achieving better outcomes for a range of disadvantaged groups that have suffered consistently poor outcomes.
We support the idea that the Spending Review should establish a significant ‘Local Outcomes Fund’ of £1.0-£1.5bn that can work towards improved outcomes for four key groups:
- Over 700,000 young people in need of apprenticeships or at risk of being Not in Education, Employment or Training (NEET)
- Over 50,000 households who are statutorily homeless and tens of thousands more on the border of homelessness
- Over 1.2m people in contact with mental health services
- Over 68,000 Looked After Children, children on the edge of care and children at risk of going into care.
We believe that the creation of a Local Outcomes Fund could lead to significant improvements in outcomes for these groups as well as value-for-money for the taxpayer. The report below is a summary of this proposal.