- Feds introduce controversial ‘social impact bonds’ to fund social services, By Les Whittington, November 8, 2012, Toronto Star: “The federal government is introducing a controversial new approach to funding social services called ‘social impact bonds’ that can turn a profit for private investors. Prime Minister Stephen Harper’s Conservatives, who have often been accused of short-changing social programs, view the bonds as a valuable source of fresh funding for Canadian communities…”
- Ottawa looks to private sector to help fund social programs, By Heather Scoffield, Winnipeg Free Press: “The federal government wants to tap into a ‘gold mine’ of private-sector funding to finance its social programs — a new approach the New Democrats are dismissing as little more than budget cuts in disguise. Human Resources Minister Diane Finley launched a ‘call for concepts’ on Thursday, asking businesses, not-for-profits and the volunteer sector to come up with fundamentally new ideas for jointly financing improvements in the lives of the needy. The launch is a tentative step into the realm of social financing — an approach that is being tested in the United Kingdom and the United States. It invites private-sector investors to provide up-front money and then collect a return on projects government traditionally pays for, such as homelessness or hunger…”
Poverty-related issues in the news, from the Institute for Research on Poverty