Cost Benefit Analysis for Opportunities Fund – ESDC
Employment and Social Development Canada shares key findings from work on cost benefit analysis from the Evaluation of Opportunities Fund for Persons with Disabilities.
Contributor
Jamil Sayeed
Junior Evaluation Officer/Analyst
ESDC
Transcript
Hello, everyone, my name is Jamil Sayeed and I work in the Evolution Directorate at Employment and Social Development Canada.
Today, I am very happy to share with you some of the key findings from our work on cost benefit analysis from the Evaluation of Opportunities Fund for Persons with Disabilities. The Opportunities Fund for Persons with Disabilities program was designed to fill a gap in federal support for persons with disabilities who are not eligible for the Employment Insurance Program or training program under Employment Insurance Act, Part 2.
The Cost Benefit Analysis for Opportunities Fund was made possible by our robust approach for estimating the benefits accrued to participants from having participated in this program. We used a data set that is built by integrating the Opportunities Fund administrative data with both Employment Insurance part 1, part 2, and dextran files from the Canada Revenue Agency.
Let's look at a quick snapshot of how we conducted our cost benefit analysis. We conducted the cost benefit analysis from the perspective of government and participants and then combined them to get the final outcome from our society's perspective.
The main benefit of the government from this program is the increase in government revenue from increased government deductions such as income and sales tax. After participating in a program when the participant is able to find a job, his main benefit is the enhanced employment earnings, the net cost of the government from Opportunities Fund program is $888, and the net benefit of the participant from this program is $7,803. So the net benefit of this program to society is $6,915. So we can conclude that the Opportunities Fund program is cost effective because the net benefit of the program outweighs the cost of the program. Thank you.
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