Social Impact Investing Taskforce a welcome first step

3 April 2019

Today’s announcement of a Social Impact Investing Taskforce and three trial sites is a welcome step by the Federal Government and answers the banking industry’s call for a clear direction on this innovative solution to tackling entrenched disadvantage.

CEO of the Australian Banking Association Anna Bligh said banks welcome the announcement by the Treasurer, Minister Fletcher and Senator Jane Hume today and would work with the taskforce during its consultation.

“Social Impact Investing represents an innovative way to tackle entrenched disadvantage, with positive signs from this approach emerging from the United Kingdom,” Ms Bligh said.

“Addressing entrenched disadvantage will not only lift individuals out of poverty but its benefits will also be felt across the economy.

“Banks look forward to playing their part in this new policy area to ensure it’s a success in achieving its goals,” she said.

ENDS
Contact: Rory Grant 0475 741 007

Latest news

1 / 3
Media Release
Banking industry continues with its important reform program
19 August 2019

Australia’s banks have welcomed the Government’s timetable for legislative change following the Hayne Royal Commission and will work with the Commonwealth to continue implementing the Commission’s recommendations. While the forward agenda for the required legislative changes was announced this morning, banks are well down the track of implementing recommendations for which they are responsible to… Read more »

Read more
Media Release
6 in 10 Aussies worried loved ones will suffer elder financial abuse
7 August 2019

The Australian Banking Association (ABA) has today announced it is joining forces with Bauer Media to expand its campaign to tackle elder financial abuse. The campaign, Stop Elder Financial Abuse, launches today in Sydney as newly released research reveals almost 6 in 10 Australians are worried that someone they know will be the victim of… Read more »

Read more