Research undertaken by Pro Bono Economics suggests that providing extra support for children in care on a payment-by-results basis, could help address a gap in attainment with their peers and produce financial benefits.
The report comments and concludes:
Analysis suggests that whilst ‘there are significant evidence gaps around the success rate of one-to-one tuition in improving GCSE results for Looked After Children and the impact that improved GCSE results have on life outcomes….. if a cross-government perspective is taken, there could be positive net fiscal impact over a 20 year time period, provided that Equal Education can successfully support the achievement of good GCSE results in 40%-50% of cases and that life outcomes are improved to close the gap against those LACs that currently achieve good GCSE results by at least 40-50%.
Closing the overall attainment gap could generate up to £26 million in savings to taxpayers in England for each cohort of Looked After Children that complete their GCSEs.
These potential savings could be sufficient to cover both the costs of the programme and a return to an investor to support a payment by results system funded through a social impact bond’.
Read the full report here