60% of Social Impact Bond funds spent on overhead and profits

“When Social Impact Bonds first appeared we expected that they would prove to be more expensive, but this is even worse than what we expected." — James Clancy, NUPGE National President. 


Ottawa (09 March 2016) — Based on figures from the intermediary group running the first Social Impact Bond project funded by the Canadian government, 60 per cent of the funds are being spent on overhead and investor profits.


Only 40% of government funding going to skills training


Pages

Subscribe to National Union of Public and General Employees RSS