New statutory guidance on the Best Value Duty from the Department for Community and Local Government sets out expectations of the way local authorities and other relevant bodies should work with voluntary and community groups and small businesses when facing difficult funding decisions.
http://www.communities.gov.uk/publications/localgovernment/bestvaluestatguidance
The guidance states that authorities should consider economic, environmental and social value when reviewing service provision. Social value is defined as being about seeking to maximise the additional benefit that can be created by procuring or commissioning goods or services above and beyond merely the benefit of the goods or services themselves.