Social Value UK

Author: Val Garcia

  • What Does Social Value Mean in the Context of Political Action?

    What Does Social Value Mean in the Context of Political Action?

    By: Isabelle Parasram OBE
    Date: 02 October 2024

    As we follow the discussions at the Labour Party Conference this week, it’s crucial to bring attention to the broader conversation around social value, especially the aspects that may not always make the headlines.

    One area gaining traction is Labour’s commitment to enhancing local economic development, a topic that could significantly influence the creation of social value. By promoting investment in community businesses, Labour’s plans could pave the way for a shift towards a more inclusive and sustainable economic model. Supporting cooperatives and social enterprises could not only foster community empowerment but also create a more resilient local economy. This focus on grassroots economic initiatives aligns strongly with social value principles, promoting fair opportunities and long-term community benefits.

    Embedding Social Value in Public Procurement

    A standout proposal from Labour is the integration of social value metrics into public procurement processes. This move aims to ensure that public spending doesn’t just deliver on economic efficiency but also promotes fairness, equity, and social responsibility. By requiring suppliers to consider their social impact, Labour is encouraging a more holistic approach to public contracts—one that aligns with the principles we champion at the Institute for Social Value.

    By embedding social value into procurement processes, Labour’s approach could lead to more responsible corporate behaviour and better outcomes for local communities. It’s a significant step towards ensuring that public funds are used not just for infrastructure or services but to foster broader societal benefits.

    Mental Health: A Critical Component of Social Value

    Another important aspect of Labour’s platform is its focus on mental health services. By prioritising funding and support for mental health, Labour acknowledges the crucial link between well-being and productivity. This approach recognises that mental health is not just a standalone issue but one that intersects with broader social, economic, and community factors.

    Investing in mental health services has the potential to improve quality of life, reduce societal pressures, and create a healthier, more productive population. It’s a vital part of building a thriving society, where individuals can contribute meaningfully to their communities and the economy, reinforcing the social value principles we hold dear.

    A Non-Partisan Approach to Social Responsibility

    As a politically neutral organisation, The Institute for Social Value (formerly Social Value UK) supports any movement that works towards a more socially responsible policy framework, regardless of political affiliation. Our goal is to ensure that social value is considered in all aspects of policy, from economic development to health and well-being, to public spending.

    The discussions at the Labour Party Conference present an opportunity to reflect on how social value can be integrated into political action. Whether through community-focused economic policies, socially responsible procurement, or mental health initiatives, these proposals have the potential to shape a more equitable and sustainable future.

  • Labour’s Policy Proposals: A Step Towards Social Value or Room for Improvement?

    Labour’s Policy Proposals: A Step Towards Social Value or Room for Improvement?

    Author: Isabelle Parasram OBE

    Date: 25th September, 2024

    At the Institute for Social Value (formerly Social Value UK), we’ve been keeping a close eye on the recent Labour Party Conference. As an organisation committed to remaining politically neutral, we nonetheless recognise the significant impact that political events like these can have on the UK’s social, economic, and environmental landscape. The policies discussed and decisions made can shape our collective future and influence how social value is embedded across different sectors.

    One key question on our minds is this: Are Labour’s policy proposals optimising social value, or could more be done to ensure long-term societal benefits?

    Housing: More Than Just a Numbers Game

    Labour’s ambitious plan to build 1.5 million homes over the next five years has garnered a lot of attention. While this pledge is a direct response to the ongoing housing crisis, it also presents a unique opportunity to embed social value at every stage of the process.

    These homes could be more than just solutions to the lack of affordable housing. They could become the foundation for stronger communities, offering not only shelter but also fostering social cohesion, creating skilled local jobs, and promoting sustainable living solutions. By designing these developments with a focus on enhancing well-being and environmental sustainability, Labour has the potential to deliver far more than just bricks and mortar.

    However, to truly maximise social value, the focus must go beyond simply addressing the housing shortage. How these homes are built, who benefits from them, and whether they contribute to the long-term resilience of communities will be critical factors in determining their social impact.

    Green Energy Revolution: Social Value in Sustainability

    Another bold policy on Labour’s agenda is their commitment to scrap new fossil fuel licences and spearhead a green energy revolution. This move could play a pivotal role in reducing energy poverty, creating jobs in the burgeoning green economy, and addressing the pressing challenges of climate change.

    By transitioning to renewable energy, Labour has the potential to create a more equitable and sustainable energy system. Jobs in green industries could revitalise communities, particularly in areas that have been hit hard by the decline of traditional industries. Additionally, reducing energy poverty could ease the financial burden on many households, promoting a fairer and more inclusive society.

    While this is a bold and necessary step, it’s essential that the transition to green energy is inclusive. Ensuring that workers in fossil fuel industries are supported and retrained for new opportunities in the green economy will be vital to ensuring that the shift benefits everyone.

    Health Proposals: Aiming for Better Care

    Labour’s health policies are equally ambitious. Proposals to double the number of district nurses and provide quicker GP appointments have the potential to improve care quality, reduce pressure on hospitals, and promote better health outcomes across the nation.

    By investing in community health services, Labour could create a more resilient healthcare system that prioritises preventative care and reduces hospital admissions. In turn, this could improve the overall well-being of the population and relieve the strain on the NHS, ensuring that healthcare is accessible and effective for all.

    However, as with any ambitious proposal, the success of these plans will hinge on their implementation. Adequate funding, training, and resources will be essential to ensuring these new roles meet the needs of the population and deliver long-term social value.

    VAT on Private School Fees: A Social Value Dilemma?

    One of Labour’s more controversial proposals is the introduction of VAT on private school fees. This policy aims to redistribute resources and potentially provide additional funding for state schools. However, critics argue that it could lead to increased demand for state school places, putting additional strain on an already overstretched system.

    From a social value perspective, this policy raises important questions. Does it promote fairness and equality, or does it risk exacerbating educational inequalities by further stretching state school resources? While the intention may be to level the playing field, the long-term social impact of such a policy must be carefully considered.

    A Non-Partisan Approach to Social Value

    At the Institute for Social Value, we believe that every policy, from any political party, should be judged not only by its immediate economic outcomes but by the long-term social impact it delivers. Whether it’s housing, energy, healthcare, or education, policies should be evaluated based on their ability to improve the well-being of individuals and communities.

    We are committed to working with stakeholders across the political spectrum to ensure that the principles of social value are embedded in future policy decisions. It’s not just about short-term fixes or economic gains—it’s about creating a fairer, more resilient society for the long term.

    So, what do you think of Labour’s proposals? Are they truly prioritising social value, or could they go further?