FEDERAL GOVERNMENT LAUNCHES THE CALL FOR NEW IDEAS ON SOCIAL FINANCING

Human Resources Minister, Diane Finley, has launched a call for ideas on how private sector social financing can shape future social policy in Canada. Social financing is a way to use private sector funding to finance social programs. It offers an opportunity for charities, non-profits, and social purpose businesses to open new sources of funding.  Many non-profits are trapped in a cycle of short term subsistence funding that diverts attention from their mission. It is a way for social purpose businesses to contribute to social programs. Minister Finley has expressed her concern “with the lack of progress in social programs, and wants to dramatically re-arrange the system so that there are incentives to deliver better results.” (Chronicle Herald, November 9, 2012). The National Consultation invites ideas from organizations and individuals from across the country on how to improve social and economic outcomes for Canadians. Comments can be made before December 31, 2012 on the website at: http://www.hrsdc.gc.ca/eng/consultations/index.shtml .