Tuesday, 28 June 2011
Department of Finance
Mary Lou McDonald (Dublin Central, Sinn Fein)
Question 136: To ask the Minister for Finance when he plans to establish the social impact bonds and if he will outline the method by which he intends to share audited Exchequer savings with charitable and voluntary organisations. [17399/11]
Michael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
The Government Programme for National Recovery 2011-2016 provides that the Government will establish a new model of financing social interventions called Social Impact Bonds that share audited Exchequer savings with charitable and voluntary organisations. The Government will consider how best to establish this new and innovative mechanism and will bring forward proposals in due course.