The Government must ensure its attempts to introduce payment by results for public services do not squeeze out charities and community groups.

In the report, we draw on the recent experience of our social investment arm CAF Venturesome in helping charities and social enterprises to finance payment by results contracts and warn that the way payment by results is being implemented threatens to exclude charity and social enterprise expertise.

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This is the first of a series of evidence-based discussion papers, drawing on our experience of working to ensure the effective funding of civil society in order to highlight key issues and make recommendations for future policy development.
This discussion paper primarily draws on a decade of financing experience through our pioneering social investment arm, CAF Venturesome.
In recent years, an increasing number of the investments CAF Venturesome has made have been linked to charities’ involvement in public service delivery. This has included dealing with many requests for finance from organisations with payment by results contracts.
The lessons learned from that experience have informed this report, which has been written by Rhodri Davies, Head of Policy at CAF.
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