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Tomorrow's People, a national employment charity that works with those facing multiple barriers to employment and equips them with the skills and confidence they need to get and keep a job, approached Pro Bono Economics to undertake an evaluation of their services for disadvantaged young people across the country.

The 2016 PBE report by Bank of England economists builds on an earlier impact analysis from PBE and FTI Consulting in 2011. Bank of England economists have been able to demonstrate that the value of Tomorrow's People's services has increased over time and that with new data, a more accurate cost-benefit analysis shows that their programmes demonstrate a benefit of £342 for every £100 spent from 2007 - 2011 and £415 for every £100 spent from 2011 - 2014.

The total value to society over the 7 years consists of benefits saved (£22.2 million), increased tax receipts (£15.7 million) and reduced spending on health and crime (£24.9 million).

Mark Carney, Governor of the Bank of England, said in his foreword to the report:

"The work of Tomorrow’s People is vitally important.  At an individual level, it helps young people realise their potential and avoid becoming ever-more-distant from the labour market.  At a societal level, it helps to break the vicious cycle between high unemployment and high levels of crime and poor health.  And at an economic level, it delivers tangible economic benefits, as demonstrated in the report.

The work of Tomorrow’s People is so valuable to young people and to wider society, and I am delighted that Bank of England economists have given their personal time and expertise to help demonstrate the effectiveness of this impressive charity.”

Martin Brookes, Chief Executive of Tomorrow’s People and PBE co-founder said:

“The report measures the impact of what Tomorrow’s People achieves in a way that is meaningful to our partners. Since the charity was founded in 1984 it has consistently opened itself up to external scrutiny. This latest report confirms that our work with young people has a major, positive impact on individuals, society and the economy, both through recession and during an improving economy. Our culture of analysis enables us to review our performance and maximise the effectiveness of our work.”

Julia Grant, Chief Executive of Pro Bono Economics, who has extensive knowledge of supporting charities and social enterprises in the youth employment space, said:

“Recent research has highlighted the human cost of young people who spend too long trying to find work without the right support to guide them into a useful job. Tomorrow’s People champions the real potential of these young people and I am delighted that with the support of our skilled volunteers at the Bank we have been able to provide hard evidence to highlight the enduring value of their work.”

10th August 2016