Catch22 supports the development of new investment approaches such as social impact bonds
We welcome the idea of social capital being used to finance programmes to support 'troubled families'. In our Right Time Right Support report (4.5MB), we called for ‘whole family’ support for young people and their families that moves beyond crisis intervention to reduce the number of teenagers going into care and to keep them out of trouble.
We have an established an effective model for working with families in tough situations, providing intensive interventions with young people aged 12 to 18-years-old and their families, to bring a ‘whole system’ approach to supporting them. Our results are impressive with 89 per cent of those we work with being kept out of care. This approach is ripe for a bond and we have been working with social investors to develop the approach more widely.
We recognise the challenges associated with developing social investment proposals but believe strongly that innovations such as social impact bonds funding preventative programmes can work to ultimately release and redirect public funding currently being spent in the delivery of more acute services where outcomes are less than encouraging.