Toby Eccles: Invest in social change

The video discusses social impact bonds as a new business model for social change, focusing on reducing re-offending rates among prisoners. It explains how these bonds work by involving socially motivated investors who fund services aimed at improving social outcomes. If successful, the government saves money and pays the investors a return. The video highlights the first social impact bond with Peterborough Prison and other initiatives, emphasizing the benefits of innovation, rigor, flexibility, and partnership in addressing social issues. The global interest in this model is also discussed.

What is the primary goal of introducing social impact bonds?

• To create a new therapy for offenders

• To reduce the number of prisons

• To establish a new business model for social change

• To increase prison sentences

How do social impact bonds benefit the government?

• The government pays only if the program is successful

• The government receives direct financial returns

• The government can increase taxes

• The government can reduce its workforce

What is the role of socially motivated investors in social impact bonds?

• They create new laws

• They provide funding for services and receive returns if successful

• They manage the prison system

• They are responsible for law enforcement

What was the target reduction in re-offending for the Peterborough Prison project?

• 15%

• 10%

• 5%

• 20%

What return could investors earn if the Peterborough project exceeded expectations?

• Up to 20%

• Up to 10%

• Up to 13%

• Up to 15%

Which area is NOT mentioned as a potential application for social impact bonds?

• Homelessness

• Children in care

• Healthcare

• Youth employment

What is one reason for the global interest in social impact bonds?

• They offer a new way to test innovative ideas

• They guarantee high financial returns

• They are easy to implement

• They require no initial investment

Which element is NOT a key feature of social impact bonds?

• Innovation

• Rigor

• Flexibility

• Profit maximization

How does flexibility benefit social impact bond programs?

• It allows for strict adherence to initial plans

• It enables adaptation based on data and outcomes

• It reduces the need for partnerships

• It increases government control

What is the ultimate goal of combining expertise from different sectors in social impact bonds?

• To eliminate private sector involvement

• To reduce taxes

• To create social change

• To increase government revenue