Ottawa hurried to spend $50-million social-finance cash, documents show GlobePolitics
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.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top three Ottawa Senators moments of the past decade - Sportsnet.caAs decades go, the first 10 years of the new Millennium were a tough act to follow for the Senators. Still, amid a general downtrend in on-ice performance, there were special moments during the 2010s. HockeyScanner details the 3️⃣ that stand out ⬇️
Read more »
Feds hurried to spend $50M social-finance cash, documents showInternal government documents show that federal officials moved quickly before the fall election campaign to dole out $50 million aimed at transforming the delivery of social services.
Read more »
Multiple federal agencies building plan to end homelessness among veteransInternal government documents show four federal departments have quietly spent months crafting an answer to a cross-party call for the government to end veterans homelessness by 2025.
Read more »
Documents show myriad federal agencies crafting plan for homeless veteransInternal government documents show four federal departments have quietly spent months crafting an answer to a cross-party call for the government to end veterans homelessness by 2025.
Read more »
Resolute to pay US$163 million for Conifex's 3 U.S. sawmills in Florida, ArkansasResolute Forest Products Inc. has an agreement to buy three sawmills in Florida and Arkansas from Conifex Timber Inc. for about US$163 million cash.
Read more »