Office for the Impact Economy

Lord Rook Excerpts

Wednesday 17th December 2025 Lords Chamber

Asked by

[Lord Rook]

To ask His Majesty’s Government how they monitor and measure the progress and impact of the new Office for the Impact Economy.

[Baroness in Waiting/Government Whip (Baroness Anderson of Stoke-on-Trent) (Lab)]

My Lords, I thank my noble friend for the work he has done to get us to this place. The office’s impact and progress will be measured against its remit, including an increase in the Government’s capacity and capability to partner with the impact economy, an increase in the number of partnerships across the country and an increase in the amount of impact capital committed to places and areas of government priority. The progress of the office against these areas will be monitored through a cross-government ministerial board chaired by the Chief Secretary to the Prime Minister.

[Lord Rook (Lab)]

I thank my noble friend. I am sure noble Lords will join me in welcoming the creation of the Office for the Impact Economy in the Cabinet Office. Given the tendency of Governments sometimes in the past to work independently of social investment and philanthropy, I am interested in which areas and departments of His Majesty’s Government will use the new Office for the Impact Economy to foster greater investment and increase collaboration and innovation around important areas of public policy.

[Baroness Anderson of Stoke-on-Trent (Lab)]

My Lords, the office is already building partnerships to benefit people in exactly the way my noble friend has outlined. We are working with MHCLG to secure match funding for the £5 billion Pride in Place programme, and with DHSC on the neighbourhood health implementation programme. In the early years space, we are supporting the DfE’s Blended Finance Facility and working with it on the Best Start Family Hubs match fund and of course the better futures fund, the biggest outcomes fund in the world, which will change the life chances of over 200,000 children over the next decade. This is only the beginning. The Office for the Impact Economy really will help us deliver on our promise of national renewal.