[European Union] Social Spending and Return on Investment - The Case for Investing in Children

30 Jun 2017
Source: 
Eurochild

Eurochild reports on a meeting by the Advisory Group for Childonomics who met in Brussels on the 20th of June for their final meeting. The meeting included an update on the Childonomics project with specific focus on the results from the two pilot countries of Romania and Malta where Childonomics' methodological approach was applied. The meetings also involved a panel discussion on what could be done by the EU to induce reform in the area of public spending. As the meeting was merely an update meeting it did not yet include any final output from the project; the extensive final results from the Childonomics project will be presented in November of 2017 at the International Foster Care Organisations World Conference in Malta.

The main agreements from the panel discussion related to the need for “resources allocated to social policies to be defined as ‘investments’ and not as ‘expenditures’”, the need for civil society and the beneficiary communities to participate in the various stages of programme development as this would increase accountability, and finally, the need to offer “real, practical guidance to support social spending to EU Member States”.

Note on the Project

As outlined in the article by Eurochild, “Childonomics is a research project aimed at developing a tool to determine the long-term social and economic return of investing in children, by comparing the costs of different services and approaches to supporting children and families in vulnerable situations with expected outcomes for children, families, communities and the society”. 

This project is funded by: