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Services for Young People

May I help my hon. Friend on this subject? Social impact bonds and payment by results are an important subject. I will give him two examples. The City Year London scheme is being piloted in many London schools, with the help of the Mayor's Fund and Private Equity Foundation money. It can show, very clearly, a return on capital in terms of the kids catching up. The Private Equity Foundation has been funding literacy schemes, in partnership with local authorities and other public providers, that clearly show a benefit for those children in social outcomes, which are so important, and can be linked back to a return on capital. There are great possibilities for the youth service, too.