“Using social finance schemes like social impact bonds to privatize community and social services means funding that is desperately needed to help the most vulnerable people in our communities will end up in the pockets of lawyers, consultants and other intermediaries,” — Larry Brown, NUPGE President
Social Finance Fund
Unless the Minister completely rejects the idea that the Social Finance Fund will be used to "bring private funding, incentives and discipline into social services," past experience shows we need to assume that it will be used to subsidize the privatization of social services.
When social finance is used to privatize public services, costs go up. In addition to investor profits, using social finance to privatize public services means new layers of bureaucracy.