If you are a Social Impact Bond (SIB) aficionado, you will already know by now that the Peterborough SIB will no longer be a SIB for its third and final cohort. It will most likely be turned into a fee for service model due to the arrival of Transforming Rehabilitation (TR).
For more information on this change, have a look at: https://socialfinanceuk.wordpress.com/2014/04/24/social-finance-statement-peterborough-social-impact-bond/. In that Blog you can also find links to the RAND report on the inner workings of the Peterborough SIB to date, and the latest reoffending data from the project, which shows a decline of 11% vs an increase nationally of 10%.
Should this be a moment of great hand wringing? The death of SIBs? The proof they’re not needed? Certainly a few tweets today might suggest so. I beg to differ.
To understand this a little better, it is worth going back to why we developed…
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