Nursery World - The City is urged to invest in early intervention

Work and Pensions secretary Iain Duncan Smith has called on banks to help fund early intervention.

At a conference on the subject last week, Mr Duncan Smith, who commissioned an independent review into early intervention led by MP Graham Allen, told bankers it was a real opportunity for investment which would yield a financial return.

He called on the financial sector to help the coalition Government to transform the way early intervention is funded and transform society at the same time.

'In both good times and bad, successive Governments have shown too little willingness to engage with fundraisng instruments other than taxation,' he said.

He suggested that a similar scheme to the work the Ministry of Justice is doing on social impact bonds, using private finance to reduce rates of reoffending, could be appled to early intervention.

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