New Report by Veterans Aid Reveals a Contribution of Up to £2.6m in Net Benefits for UK Society
An independent report illustrating the social and economic value of the work of an ex-service charity has confirmed that Veterans Aid’s interventions over the course of a year achieved net benefits (i.e. savings to society) of up to £2.6m.
The report produced by Cambridge Econometrics also confirmed that the Charity continues to achieve an approximate 90 per cent success rate in terms of restoring sustainable independence to veterans formerly in crisis.
CEO, Veterans Aid
The study, which utilised the Greater Manchester Combined Authority’s Unit Cost Database, was conducted using data provided by Veterans Aid for a sample of veterans that it supported in 2022/23.
It assessed the costs incurred by Veterans Aid to support these veterans and quantified the potential benefit of the successful outcomes reached in the form of fiscal saving, increased employment income, and wider benefits to society.
Veterans Aid conducts follow up assessments of those leaving its care at six, 12 and 18 month intervals. For the purposes of the study, veterans still flourishing at the 18 month point were counted as successful outcomes.
Chief of Staff, Veterans Aid
Founded in 1932, Veterans Aid has been providing immediate, practical support to veterans in crisis ever since.
The frontline operational charity is focused on prevention of adversity – demonstrated in its most extreme forms by homelessness, social isolation, addiction and family breakdown. It operates from a central London HQ/Ops Centre and a 66-room residential facility, New Belvedere House, that underwent an £8m+ transformation in 2018. Since then it has provided 125,334 nights of accommodation for veterans who would otherwise have been homeless.
Chief Operations Officer, Cambridge Econometrics