New report confirms benefits of Invest-to-Save fund
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."
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