Question to the Cabinet Office:

To ask the Minister for the Cabinet Office, which government department will have responsibility for the management of the social investment outcomes fund.

In the spending review the Chancellor announced £80m for a new social outcomes fund to support the creation of locally developed social impact bonds tackling a range of social problems. The Cabinet Office has responsibility for the fund. The detailed criteria for the fund is being developed, but it will provide a portion of outcome payments for locally commissioned social impact bonds where some of the benefits and savings generated fall to central government.