Forecasting the Benefits of the UK Commission’s Programme of Investments
This study forecasts the costs and potential economic benefits attributable to the UK Commission’s Employer Investment Fund (EIF) and Growth and Innovation Fund (GIF) investments. Overall, the study indicates that the investments have the potential to deliver a significant level of benefits and achieve relatively strong value for money.
Published Dec 2013
The UK Commission is responsible for two innovative, strategic skills investment funds: the Employer Investment Fund (EIF) and Growth and Innovation Fund (GIF). These are focused primarily on the development of sustainable training infrastructure designed to increase employer investment in skills and address skill needs on a sector basis.
The primary objective of the study was to conduct an ex-ante evaluation to forecast the costs and potential economic benefits arising from EIF and GIF investments.
A conservative approach has been adopted throughout the study and one that aligns as far as possible with principles set out in HM Treasury Green Book guidance.
The study finds that, over a 10 year period, the forecast return of EIF and GIF investments is estimated to be between £3 and £6 per pound of public money invested. This estimate is based on the investments being sustained over time.
The results of this study provide an overall assessment of value for money and indicate that EIF and GIF investments, if sustained over time, have the potential to deliver a significant level of economic return that compares favourably with other types of skills intervention.
Executive Summary 80 – Forecasting the Benefits of the UK Commission’s Programme of Investments (PDF, 331 Kb)
Evidence Report 80 – Forecasting the Benefits of the UK Commission’s Programme of Investments (PDF, 1.1 Mb)
