The Albanese government could help attract private capital to support funding of social services by creating a new investment institution as recommended by a report for the Department of the Prime Minister and Cabinet that the previous government never released, its authors said.
Establishing a social impact function in the federal government could help leverage public dollars with superannuation funds looking for investments that offer both reasonable returns and positive social outcomes, such as improved education or health.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
