Media Release: The New Zealand Initiative welcomes social bonds (again)
Wellington (21 February 2017): Responding to today’s announcement by the Beehive that the Government’s first social bond will focus on mental health:
The New Zealand Initiative welcomes the Government’s commitment to social bonds, and believes the mental health sector is a good area to test the potential for the model.
In fact, The Initiative said as much when the government first announced a similar social bond nearly two years ago.
“While we were disappointed that the first social bond collapsed, we still consider the mental health sector a good area for a social bond. Successive governments have neglected to improve the outcomes of those with mental illnesses who need extra help getting into work. It is time to tap into private sector expertise to solve the kinds of social problems that governments have struggled with,” says policy analyst Jenesa Jeram.
“The social bonds model needs to be given enough rope either to swing into success, or fail. As we’ve seen, it is all too easy for the model to be jeopardised by bureaucratic inertia.
Hopefully, with a newly dedicated Minster for Social Investment, we will see the Government indicating a renewed priority to test new ways of funding and delivering social services.”
The New Zealand Initiative’s report ‘Investing for Success: Social Impact Bonds and the future of public services’ is available on our website here.
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Media contact
Simone White, Communications Officer
The New Zealand Initiative
Phone: +64 4 494 9109
Mobile: +64 21 2937 250
Email: simone.white@nzinitiative.org.nz