What does it take to deliver our public services efficiently and effectively, to improve the lives of our most vulnerable communities? As 3 in 4 Britons believe that public services have worsened over the past five years, this timely new report reflects on the potential for social outcomes partnerships to be part of the solution.
The report, produced by the Government Outcomes Lab (GO Lab) which is part of Oxford University’s Blavatnik School of Government, analyses data from every social impact bond, increasingly referred to as social outcomes partnerships, ever launched in the UK over the last 15 years. It also brings together a collection of reflections from leading practitioners.
It reveals just how far this innovative model has come since social impact bonds were first launched by UK Prime Minister Gordon Brown as a model to convince other funders to support public services alongside the government, reassuring them that they would only have to put their money in if the results of the project were achieved.
Fast forward to 2024 and more than £80 million has been raised from the private sector as upfront capital for almost 100 social outcomes partnerships across the UK. The world has followed suit with a further 200 social outcomes projects across the globe.
The report includes reflections on the world’s first impact bond in Peterborough, which aimed to reduce reoffending rates among short-sentenced offenders. Since the launch of the Peterborough bond in 2010, over 110,00 individuals across England have been supported through services funded in this way to achieve better life outcomes in key areas such as employment, education, health and social care.
The impact of one of these projects, the Kirklees Better Outcomes Partnership, is brought to life by Michael Peoples who was supported by the programme and later became its Peer Mentor Coordinator. He explains how the outcomes-focused approach helped him to break out of a cycle of addiction by finding meaningful connections and opportunities.
Andreea Anastasiu, GO Lab’s Executive Director, said
“The government has an opportunity to deliver better outcomes, save money and re-build public trust through accountable and adaptable social outcomes partnerships. This aligns particularly well with the vision for a mission-led government and the ambition to nurture a more mature relationship with devolved government."
Ngaire Woods, founding Dean of the Blavatnik School, said:
“This report offers urgent, important and illuminating insights to the ongoing dialogue on how to achieve sustainable and impactful social outcomes in a world in crisis. I am confident that this report will serve as an invaluable resource for policymakers, practitioners, and researchers alike."
