The leader of Essex CC has highlighted the benefits of social investment bonds at a G8 summit.

Speaking at the G8 Social Investment Summit, Cllr David Finch hosted a workshop on the benefits of social investment bonds and explained why his local authority is using the bonds to fund care work with vulnerable people.

‘It is exciting because it provides a new means of raising funding to deal with social problems at a time when our finances are under pressure and our sources of income failing,' said Cllr Finch.

‘Essex's social investment bond aims to divert young people away from the care system, to improve their social outcomes and life chances.

‘It is an innovative new mechanism for financing interventions and I'm delighted to be here today to share Essex's experience and learning.'