Recreation Spaces: Finance
The question
To ask the Secretary of State for Housing, Communities and Local Government, if he will consider commissioning a piece of work to review all the existing evidence on the return of funding for parks and green spaces to support central and local government in prioritising funding decisions on parks.
Answered by Miatta Fahnbulleh
We commissioned Keep Britain Tidy to conduct a rapid evidence review on the returns on investment for parks funding, using a combination of up MHCLG programme budget and underspend from the Green Flag Award. There is substantial evidence outlining the investment benefits of parks and green spaces. However, no research to date has brought this evidence together, therefore MHCLG commissioned this research to assess the return on investment for every £1 of funding provided to parks to achieve these benefits.
Researchers conducted a literature review, followed by consulting experts within the parks sector to bring together evidence. The report finds cost savings from investing in parks by reducing healthcare costs, aiding climate change mitigation, boosting local business and reducing crime. For example, the report finds evidence of cost savings between £8.50 and £30.30 for every £1 invested in parks as a result of reducing healthcare costs.
The review also addresses the lack of up to date, reliable data. In highlighting this, the report makes a case for further, comparable research projects in this field to be undertaken. This lack of evidence is also a factor affecting the ability of the report to provide specific parks investment recommendations. The report highlights that in addressing these issues surrounding the available evidence, a clearer understanding of the return for every £1 invested in parks can be attained.
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