The vital services Canadians rely on every day are best delivered by the public sector. Canadians have witnessed and experienced the damage privatization does. That’s why corporations no longer call it privatization. They invent flowery new names like Social Impact Bonds, Social
Financing and Competitive Neutrality to dress up their smash and grab tactics.
Social Impact Bonds are another way for governments to borrow money without it showing up on the books as debt. In the process social services are privatized with investor profits and the new layers of bureaucracy Social Impact Bonds require pushing up costs. Because the intermediary organizations providing services must make a profit for investors, those most in need will have no where to go if it is too difficult or too expensive to help them.