RAND Europe was commissioned by the UK Ministry of Justice to evaluate the world's first Social Impact Bond (SIB), an innovative payment-by-results mechanism to fund public services. Implemented in a prison in Peterborough in eastern England, this first SIB aimed to reduce reoffending by prisoners who have served short custodial sentences. The third and final report from RAND's evaluation provides evidence and key lessons on the operation of this funding model, informing the possible development and roll-out of SIBs in other policy areas and in other parts of the UK.
Please note: This report is not available on the RAND website but can be downloaded from the GOV.UK website.
Table of Contents
Aims of this research
A description of the One Service intervention
Findings from interviews with One Service cohort members and case file review
Wider benefits from and innovation in the Peterborough pilot
Conclusions and lessons for future payment by results and Social Impact Bond schemes
The research described in this report was prepared for the Ministry of Justice and conducted by RAND Europe.
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