SMILING CARCASS'S TWO-PENNETH

Commenting on social, political, economic and general topics

Iain Duncan Smith’s Plan To Privatise … Everything?

leave a comment »

the void

iain-duncan-smith-image-2Plans are underway to place up to one trillion pounds of public spending in the hands of investment companies and bankers.

Iain Duncan Smith gave a speech at the Social Investment Conference last week discussing how Social Impact Bonds are “transforming the whole culture of public spending”.  These bonds are the latest way to funnel tax payer’s money into the private sector by allowing investment companies to hand out contracts to run public services on a payment by results model.

The way it works is simple.  A bunch of city spivs and social enterprise bosses get together and decide they can fix a social problem such as street homelessness.  A list of ‘outcomes’ are drawn up, such as the number of homeless people they think can place in accommodation and the government agrees to give them lots of our money if they are successful.  The spivs then either lend or…

View original post 610 more words

Advertisements

Written by Smiling Carcass

24/03/2015 at 9:10 AM

Posted in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: