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Social Impact Bonds: A Terrible Public Policy Idea

Social Impact Bonds: A Terrible Public Policy Idea. …and why they might be right for you. David Macdonald Canadian Centre for Policy Alternatives Family Service Ontario May 7 th , 2013. Need for Social Services: OW & ODSP. Need for Social Services: Employment.

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Social Impact Bonds: A Terrible Public Policy Idea

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  1. Social Impact Bonds:A Terrible Public Policy Idea …and why they might be right for you David Macdonald Canadian Centre for Policy Alternatives Family Service Ontario May 7th, 2013

  2. Need for Social Services: OW & ODSP

  3. Need for Social Services: Employment

  4. Need for Social Services: EI Coverage

  5. Social Services Resources: Charitable Donations

  6. Social Service Resources: United Way

  7. How are corporations doing

  8. The Corporate Cash Hoard

  9. Might corporations move?

  10. Social Impact Bonds in Canada Federal Government, Nova Scotia JobsNow in Ontario “in 2006 and I asked the Department how many homeless we had in this country…I was told 150,000. Three years later … I asked again how many homeless and was told 150,000. Good work had been done – but no real dent had been made.” Minister Finley -- Social Impact Forum Nov 8, 2012

  11. Philanthropy vs. Social Impact Bonds Philanthropist Financier $10K donation $10K Social Impact Bond $11,300 ($10K principal + 13% profit) Government Social Service Agency Don’t pay $2,600 in tax Social Service Agency Government

  12. SIB proposed benefits Risk transfer Encourage innovative programs Assured government savings Increased social services funding

  13. Why SIBs might be right for you

  14. The risks are much higher

  15. Thank you David@policyalternatives.ca www.policyalternatives.ca

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