New report calls for £200m social investment fund

The government should set up a £200 million social investment fund in order to promote the use of early intervention into social problems, according to a Labour MP.

Graham Allen has published a second report on the issue, called Early Intervention: Smart Investment, Massive Savings, which claimed these schemes could be funded with either existing resources or non-governmental finance.

The early intervention fund, in partnership with the Big Society Bank, would see investors pay for the service delivery costs of the programme and then receive a share of the profits generated if agreed targets are met.

He said: "There are no magic bullets in this report just a tough, practical guide to changing our spending culture from late intervention to early intervention, which has to be driven inside Whitehall by ministers and officials, and outside Whitehall by an independent Early Intervention Foundation."

A number of local councils are interested in the programme, according to the report, with 27 authorities ready to run pilot schemes.

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