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SOCIAL INVESTMENT BONDS COULD BE BIG

 |  Noel Hewlett  | 

On reading an article by Richard Prebble in the New Zealand Herald on 15 May, I was inspired to put pen to paper and share his excellent views.

Richard stated that a Social Investment Fund would commission outcomes for vulnerable New Zealanders and would work for the community, non-government organisations and iwi providers.

The Social Investment Policy was introduced in the 80s by Finance Minister, Bill English, but unfortunately was defeated and not pursued by the incoming government.

Since 2013, Australia has been successfully using Social Investment Bonds to tackle issues ranging form homelessness to recidivism – the tendency of a convicted criminal to reoffend.

The National Party stated in their manifesto that the bonds would start off with public money. A huge portion of revenue for our trading banks operating in New Zealand comes from Investment Bonds and if a portion of this was moved to social investment, it must be a benefit to our country.

As Richard Prebble said in his article, it could be the Coalition’s big idea for this government.

I wonder if we could not do something on a regional or local scale with private investors and commission Social Investment Bonds for some significant projects that have wide support and are essential.

Could that not be possible? It would mean we could offer resources to our people and moderate return on investment, and then development would attract more investment; – sowing a seed here.

On reading an article by Richard Prebble in the New Zealand Herald on 15 May, I was inspired to put pen to paper and share his excellent views.

Richard stated that a Social Investment Fund would commission outcomes for vulnerable New Zealanders and would work for the community, non-government organisations and iwi providers.

The Social Investment Policy was introduced in the 80s by Finance Minister, Bill English, but unfortunately was defeated and not pursued by the incoming government.

Since 2013, Australia has been successfully using Social Investment Bonds to tackle issues ranging form homelessness to recidivism – the tendency of a convicted criminal to reoffend.

The National Party stated in their manifesto that the bonds would start off with public money. A huge portion of revenue for our trading banks operating in New Zealand comes from Investment Bonds and if a portion of this was moved to social investment, it must be a benefit to our country.

As Richard Prebble said in his article, it could be the Coalition’s big idea for this government.

I wonder if we could not do something on a regional or local scale with private investors and commission Social Investment Bonds for some significant projects that have wide support and are essential.

Could that not be possible? It would mean we could offer resources to our people and moderate return on investment, and then development would attract more investment; – sowing a seed here.


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