New South Wales Australia leading the dialogue on boosting the community with SIBs a key part of the agenda.
Reimagining NSW: Four Ways To Boost Community Well-Being And Why It Matters
The Conversation
An emerging model for enabling people with disability to live to their full capacity is through the use of social impact bonds. That’s where the government sets a specific, measurable outcome that it wants achieved for a particular segment of society, and promises to pay an external organisation if it achieves that outcome.
For example, the NSW government signed a seven year social impact bond with UnitingCare Burnside, focused on either safely returning children in out-of-home care to their families, or preventing children from entering care. With a principal of A$7 million, the bond aims for a financial return of 10-12% per annum for investors over its term.
The NSW government should apply the lessons learned from this model more broadly to boost job market participation for people with disabilities.