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

To ask the Secretary of State for Digital, Culture, Media and Sport, what assessment his Department has made of the potential overall cost effectiveness of social outcomes contracting to Government.

The Life Chances Fund (LCF) is a fund specifically designed to test the use of Social Impact Bonds (SIBs), also known as social outcomes contracts. The evaluation supporting the LCF has been designed to provide an answer to the question of cost effectiveness. It seeks to determine the comparative cost benefits of using SIBs compared to other commissioning routes.

The evaluation findings are due in 2025, following the completion of LCF funding.