Social benefit bonds
New and innovative approaches to address complex social and economic challenges
In an effort to tackle challenging social issues facing Queensland communities, the Government will pilot three Social Benefit Bonds (SBBs)
An additional $2 million over two years is allocated to implement this cross-agency initiative which aims to source funds from private investors, providing a return when agreed outcomes are met.
Potential benefits of SBBs are improved:
- focus on the delivery of outcomes for clients
- flexibility and innovation in service delivery
- emphasis on early intervention and prevention
- evidence base and data for policy makers.
A Social Benefit Bond Readiness Fund of $1 million will also be available for the initial pilots to assist short-listed service providers in the co-design phase of SBB development.
The Government will pilot SBBs to test ways we can partner with service providers and the private sector. This initiative will be in addition to the existing arrangements with service providers across Queensland.
- Approximately 43,700 Queenslanders received specialist homeless services in 2013-14. Of these, 52% were under 25 years of age.
- 55% of all clients were female.
- Domestic and family violence was identified as a reason for seeking assistance by approximately 24% of clients.
- 33% were of Aboriginal or Torres Strait Islander origin.
- Queensland jails held 7,049 prisoners at 30 June 2014.
- In 2014, 66% of prisoners in Queensland had been in jail before; one of the highest rates in the country.
- In 2013-14, our youth detention centres held, on average, around 180 young people per day either on remand or sentenced. A further 1,412 young people were on community-based supervision orders on average, per day.
Improving Indigenous Outcomes
- Indigenous adult Queenslanders are almost 11 times more likely than non-Indigenous persons to be in prison.
- Indigenous Queenslanders have a lower life expectancy at birth.
- Indigenous students have lower attendance rates at school; and lower post-school training and employment rates.