Australia looking to revamp stretched government finances with more use of SIBs leads today’s stories:
ABC
Federal Treasury has looked at offloading some financial responsibility for the $22 billion National Disability Insurance Scheme (NDIS) to the private sector.
The Government has warned the NDIS has a multi-billion dollar funding gap, and Treasury is grappling with projected federal deficits of more than $120 billion.
A freedom of information (FOI) investigation by ABC News has obtained documents showing Treasury has explored shifting some of the scheme’s cost to the private sector through social impact bonds, particularly for children with developmental problems.
Social bonds use private finance, with governments paying a return that depends on the outcome achieved.
Under the heading “application of social impact bonds to the NDIS”, the Cabinet-sensitive paper said: “Private investors would provide upfront finance to either the National Disability Insurance Agency or a disability services provider.”
Westminster Must Recognise Potential Of Social Value Act
Andrew O’Brien, head of policy and engagement at Charity Finance Group – Pioneers Post
The UK government’s commitment to the Social Value Act “has been heavy on rhetoric and light on substance”. Andrew O’Brien, head of policy and engagement at Charity Finance Group urges central government to do more to raise awareness about the Social Value Act.