The Government has announced the opening of a new Inclusive Economy Unit, to be based in the Office for Civil Society in the Department for Culture, Media and Sport (DCMS). The new Unit will bring together the expertise of the public, private and civil society sectors, with the aim of building an inclusive economy that “works for everyone”.

The new Unit will build on the existing Social Investment and Finance Team in the Office for Civil Society, by strengthening the social investment market and social impact bonds, expanding public service mutuals, and supporting mission-led business.

The new Unit will not take on any new policy roles within Government, but will work in partnership with Government departments, by continuing to:

• Encourage better use of private investment and support markets that deliver social impact as well as financial returns
• Improve delivery of public services: increasing social impact while bringing value for money in the commissioning of public services
• Encourage responsible business, from social enterprise startups to companies that aim at ‘profit with purpose’.