Life Chances Fund social impact bonds in children’s social care

This report provides findings on seven children’s social care projects commissioned through Social Impact Bonds (SIBs) that are part of the Department for Digital, Media, Culture & Sport (DCMS)’s Life Chances Fund (LCF). The research investigates the justifications and alternative SIB design approaches adopted by local authority commissioners to support children and families ‘on the edge’ of (or already within) the statutory care system. It used qualitative methods, including analysis of key documents, workshops and semi-structured interviews with relevant stakeholders.

DCMS commissioned the Government Outcomes Lab (GO Lab) to undertake an evaluation of the LCF. The LCF was launched as an £80 million outcomes fund, which aims to tackle complex social problems by helping people in society who face the most significant barriers to leading happy and productive lives in England. The LCF contributes to SIB projects through payments by results contracts. These contracts involve social investors and are locally commissioned.