Social impact bonds -- Westminster's social contact

The city council of Westminster incorporated social impact bonds into a new social contract with its citizens and businesses.

"The government's economy in public spending and other social and economic changes demand a new approach from local government. We see this as being guided by a new sense of civic responsibility, fairness and opportunity. Our principle of responsibility is about recognising the value of public contributions to contribute to making it a successful place.

http://www.guardian.co.uk/local-government-network/2011/dec/12/westminster-council-civic-contract-summary?newsfeed=true