Ontario government: Improve SROI with strategic investments in innovation, housing and health

The Wellesley Institute calls on the Ontario government to take a multi-sectoral 10-year approach to maximizing its social return on investment. In a 15-minute presentation to the Standing Committee on Finance and Economic Affairs of the Ontario Legislature (see the official Committee transcript) on Monday, February 1, Rick Blickstead outlined three major recommendations for strategic investment.

Ontario Pre-Budget Submission 2010

Key Recommendations

  1. Implement the affordable housing strategy component of Vision 2020, a comprehensive provincial social economy strategy, by
    • maintaining existing housing commitments
    • strengthening the operational capacity of the Ontario Ministry of Municipal Affairs and Housing
    • strengthening the technical capacity of Ontario’s affordable housing sector
    • increasing capital funding for new affordable homes

    Estimated cost: $289 million

  2. Make the initial investments in a Health Equity Innovation Fund, that will support far-sighted planning and effective service interventions to address the adverse impacts of health disparities through
    • equity driven consumer health services
    • evaluation follow-up
    • knowledge transfer programs

    Estimated cost: $43 million

  3. Support innovation and enhance capacity in Ontario’s vital community sector by
    • maintaining existing funding commitments
    • moving forward with a more comprehensive agenda for the third sector (as set out in the province’s Poverty Reduction Strategy of 2008)
    • providing initial capitalization for a social innovation fund for necessary initial seed capital for triple-bottom-line social entrepreneurs.

    Estimated cost: $30 million

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