Today’s story almost looks like ancient history. Overnight in a result which surely gives opinion pollsters the mantle as the new dismal scientists, the governing. Conservative party has been swept into power with an outright majority in the UK having previously been in coalition.
This is marvellous news for Social Impact Bonds as the Conservatives were first to champion their usage and remain keen on their increased deployment. That said the mostly left wing UK NGO sector may be left frustrated as they would have preferred a broad hard left shift to the opposition Labour Party who naturally prefer block grants as opposed to pay for success structures.
Have a good weekend.
UK – The Coalition And The Charity Sector: What Were The Highs And Lows?
David Ainsworth – Civil Society
The coalition government draws to a close, following five years in which it has often had a turbulent relationship with the charity sector. We look back over some of the key issues.
The last five years has seen a government-backed push to grow the social investment market, particularly with the launch of Big Society Capital, a £600m social wholesaler, an explosion in the number of social impact bonds, and the introduction of a new social investment tax relief. Recently a £100m Access Foundation has been launched to give grants to encourage social investment.
However there has been a backlash against the movement, with charities questioning whether this form of finance is good for the sector.