Question to the Cabinet Office:

To ask the Minister for the Cabinet Office, with reference to the Prime Minister's speech of 11 January 2016, on life chances, what period the £30 million social investment outcomes fund will cover; when that funding will become available; and to which bodies that funding will be made available.

The Life Chances Fund is an £80m outcomes fund that will focus upon supporting the creation of locally developed social impact bonds tackling a range of social problems. In his speech, the Prime Minister announced that up to £30m of the Life Chances Fund would be made available to support drug and alcohol rehabilitation. The detailed criteria for the fund, including timescales, 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.