The SIB process viewed from the perspective of anti poverty campaigners who clearly believe money grows on trees. Alas the infantalisation of economics has led us to this impasse…
Social Impact Bonds: Poverty Reduction Strategy Or Privatization Scheme?
Matt Mosher – NB Media Co-Op
The NDP and anti-poverty groups clashed in September over how to reduce poverty in the lead up to the provincial election in New Brunswick. The NDP said it would pilot Social Impact Bonds (SIBs) as an aggressive way to tackle poverty in the province.
Announcing the poverty reduction plank of his party’s platform in Saint John on Sept. 2nd, NDP leader Dominic Cardy explained that the SIB pilot program would fight poverty and fuel sustainability of community organizations by allowing them to make bids on services. Cardy further emphasized that SIBs are a way for community groups to participate in solving problems in their own backyards.
Anti-poverty advocates such as the Common Front for Social Justice do not support the use of SIBs as a way of reducing poverty and feel that increasing the minimum wage and social assistance rates would do more to alleviate poverty.