New report confirms benefits of Invest-to-Save fund
2 May 2014 04:00 PM
An independent report
into the Welsh Government’s Invest-to-Save fund has estimated that
completed projects are expected to generate a gross return of 300% and confirms
the benefits the fund has had on the delivery of public
services
The report was commissioned by
the Welsh Government to see if the aims of the fund were being achieved.
The report confirms that the
fund:
- focuses on delivering improved
public services, improving the collaboration between different public sector
bodies
- improves the need to support
organisations in delivering efficiencies in a challenging financial
climate
- addresses specific issues at a
local level which can prevent organisations taking on improvement projects
which will improve the efficiency and quality of public service
delivery.
Welcoming the report Jane Hutt
said:
"Through our
‘Invest-to-Save’ fund we need to make sure that every pound we
invest gives us better outcomes and improves the standards of public service
delivery in Wales. It is very welcome news that for every £1
invested through the Fund, it is estimated that £3 has, or will be,
generated in terms of gross savings. That’s a gross return of 300%.
"This report gives us
strong, independent evidence that the Invest-to-Save Fund is providing real
benefits across Wales. It confirms the value of the fund and recognises
the financial and service delivery benefits which have been generated to date.
This is all the more important as pressures increase on reducing
budgets.
"I have seen some excellent
projects across Wales that are improving public services and generating savings
thanks to the Invest-to-Save Fund. I hope that all public service organisations
will look at the case studies we are also publishing today to see what lessons
their organisations could learn from the projects already
underway."
Links
Invest-to-Save FundInvest-to-Save Fund