Oral Answers to Questions
Debate between Oliver Letwin and David Burrowes(9 years ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Letwin
The charity sector as a whole has an income of about £40 billion a year, which is broadly stable. I have been looking at the council accounts for the hon. Lady’s area. It turns out that Kirklees Council has £200 million in useable and unused reserves. The problems to which she refers are not real ones.
Mr David Burrowes (Enfield, Southgate) (Con)
Tackling complex needs effectively has been something of a holy grail out of the reach of previous Governments, so I welcome the commitment in the autumn statement to £105 million in social impact bonds to tackle complex needs and perhaps get us closer to that holy grail.
Mr Letwin
I very much agree with my hon. Friend, who has been a passionate advocate, as I and others have been, of social impact bonds. This is a huge change in the way our country is organised. We can get to the point where we are actually paying for outcomes, not inputs. We lever up the amount the Government put in on behalf of the taxpayer, with huge contributions from the private sector and from those double bottom line investors. We can see a huge transformation in public services.