In the first reading of the 2015 Queensland Budget Speech on 14 July 2015, Treasurer Pitt announced that the Queensland Government will pilot three social benefit bonds aimed at sourcing funds from the private sector to finance the achievement of quantifiable social outcomes in the community.
The Queensland Government have since released an information sheet on social benefit bonds.
The pilot bonds will be focused on the reduction of criminal re-offending, homelessness and Indigenous disadvantage.
So, what are social benefit bonds and could they be a force of change in financing the not-for-profit sector?
Paxton-Hall lawyers has provided a detailed article on the details and impacts of social benefit bonds in Queensland.
You can also read the Community Door blog on social impact bonds, which gives a general overview of the theory behind this type of investment.