Yesterday’s federal budget contained two financial commitments for advancing the federal Social Innovation and Social Finance Strategy, which provide a foundation for moving forward on this file.
The government committed to:
- Renew the Investment Readiness Program with an investment of $50 million over two years. (Advocacy efforts had asked for a permanent program at $100 million per year.)
- Launch already-planned disbursements of the $755 million Social Finance Fund and deploy up to $220 million over its first two years, starting this year.
For further reading:
- Federal Budget 2021: A Recovery Plan for Jobs, Growth, and Resilience (see page 207 for the specific commitments outlined above)
- Imagine Canada’s budget response: Federal budget makes strides for nonprofits and charities
- Chantier de l’économie sociale’s budget response (French only)