The concept has cross-party support and groups working in the nascent sector are looking forward to seeing the final details of how the bulk of the money will be distributed, said Stephen Huddart, president and CEO of the McConnell Foundation.
At the same time, federal officials continue to work on the design of the $755 million social-finance fund.The idea is that payments from government would flow if a project — finding housing for people for whom current programs haven’t worked, for instance, or helping people kick drug addictions — has been shown successful through detailed data. But such a project would have to be funded in the beginning by private backers who take on the risk of failure.
The documents obtained by The Canadian Press also show the government was told to look for a return to its main social finance fund to make it sustainable, allowing the initial $755 million to be recycled over and over for new projects. Sen. Ratna Omidvar, who has been a proponent of social finance in the upper chamber, said she expects these to be part of the plan.“You can’t just simply push the money out the door without making sure that there is a higher bar on capacity, on understanding, how to service investments, how to capture data and evidence.”
globepolitics Globe and mail. Hot on the trail. After the election. Glod and mob is a joke.
globepolitics Stephen Huddart believes, like many, that profit is evil and not to chase. In many instance, this may be true but the idea is to have discipline not to waste as too often throwing money at stuff is wasteful as most lose value. Even if one has money, open credit is just stupid..
globepolitics Philantropic/Private Seed capital! George Soros must be smiling from ear to ear, while he controls his puppets PM Teflon Trudeau and his Liberal party! Smooth move on taking Canada down the rabbit hole!
globepolitics No wonder taxes are so high?
globepolitics The Trudeau 'Liberals' buying votes is nothing new
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