Question to the Department for Digital, Culture, Media & Sport:

To ask the Secretary of State for Digital, Culture, Media and Sport, what the cost of social impact bonds has been to the public purse since 2010.

Government has funded £53.65m worth of public services commissioned using Social Impact Bonds through the following completed programmes:

• Social Outcomes Fund for projects meeting multiple needs - £2.2m
• Peterborough Prison Offender Rehabilitation service - £3.95m
• Fair Chance Fund providing services tackling youth homelessness - £14.1m
• Greater London Authority’s Rough Sleeping service - £3.4m
• Innovation Fund addressing youth unemployment - £30m.

In addition the Government has committed up to a further £111m through the following programmes, some of which are are underway:

• Life Chances Fund, supporting public service commissioners around the country to use SIBs to address complex social issues - £80m
• Youth Engagement Fund tackling youth unemployment - £16m
• Rough Sleepers SIB Programme - £10m
• £5m for Care Leavers as part of the Innovation Programme.