Applying social investment principles to the provision of long-term care: issues for consideration
Bernard Casey | PSSRU, London School of Economics and Political Science
In 2013, the European Commission (EC) launched its Social Investment Package (SIP). The package had a double objective. First, it constituted an effort to reinvigorate debate about social expenditure, particularly in a time of fiscal austerity. Second, it provided an opportunity to strengthen the social dimension of its Europe2020 strategy – a strategy that, until then, had seemed to concentrate primarily on enhancing ‘economic growth’.
The paper will:
a) provide an understanding of what SI, itself, means – this requiring the many dimensions of the term to be unpacked and the extent to which there is a common understanding of what SI is currently achieving, and what might be achieved, to be made clear;
b) set the background for an examination of how social cost-benefit analysis might be applied to answer the question: Are there any commonly accepted metrics to reasonably, comprehensively and effectively compare ‘expenditure’ on long-term care services with respect to their quality and social performance?; and
c) contribute to the discussion about how the principles of SI are or might be used to improve LTC provision in a fashion that is welfare enhancing.