A bythenumbers look at the federal governments new social finance fund

first_imgOTTAWA — The Canadian government is promising almost $800 million for an experimental way to pay for charitable work, charging into the world of “social financing” to help charities and non-profits find new, and potentially cheaper, ways of delivering social services. Here are some figures to explain the pledge in this week’s economic update.$755 million: Combined value of federal spending over 10 years for the social-finance fund.$121 million: Actual hit the Liberals expect against government books from administrative costs and expected investment losses over the next five years.$500 million: Funding a government panel recommended this summer for the fund.$436 million: Capital managed by a similar fund in the U.K., adjusting for population and size of economy, according to government calculations.$50 million: Additional spending over two years the Liberals promise to help smaller groups build know-how to access money through the new fund.3-5: Range, in percentage points, of returns to private investors the government believes will help double or triple the pool of capital available for social-finance initiatives.$2 billion: Estimated economic activity the Liberals hope to generate from the decade-long program.100,000: Estimated number of jobs the Liberals hope to maintain or create over the next decade as a result of the spending.$13 billion: Amount the federal government spends annually on grants and contributions to non-profit organizations.(Sources: Fall Economic Statement 2018; Social Innovation and Social Finance Strategy Co-Creation Steering Group)The Canadian Presslast_img read more