Social Impact Bonds Can they work for Scotland?

KEYNOTE SPEAKERS:

TOBY ECCLES Development Director Social Finance

ANDREW MUIRHEAD Chief Executive Inspiring Scotland

14 MARCH 2012 THE ELIM CENTRE, GLASGOW

SUPPORTING PARTNERS COORDINATED BY

LEAD PARTNERS

With austerity measures and Westminster budget cuts affecting budgets for Scottish Government, Scotland’s local authorities and public bodies, there will be an inevitable reduction in both spending on services and preventative spend to tackle Scotland’s social problems. With Social Impact Bond pilots in place in England, we ask if this model, or an equivalent, could help fund outcome-based programmes through private investment. Will this allow Scotland’s third sector to deliver high quality services, create a fairer society with greater opportunity and potentially generate long-term savings to the public purse?

SESSION 1:

Introduction to Social Impact Bonds

In this introductory session, we will look at the current third sector market in Scotland and how the market has changed to a sector that knows grant funding is becoming harder to obtain and strives to become more economically self-sufficient. In this context, we will look at the Social Impact Bond model and how it works.

SESSION 2:

Can this work in Scotland?

In this second session, we will explore the technicalities of Social Impact Bonds. As the pilots are currently running in England, will differences in Scottish law or a combination of devolved and reserved public purse holders cause complications even when the complicated issue of social accounting for the programme has been completed?

SESSION 3:

Developing the market

In this final session, we look at what steps need to be taken in order to introduce the Social Impact Bond model, or a Scottish equivalent, into Scotland. We ask; who needs to be involved, who would benefit and are we ready?

Social Impact Bonds

SESSION ONE

Introduction to Social Impact Bonds09:35 OPENING KEYNOTE

Chic Brodie MSP, Convenor of the Cross Party Group on Social Enterprise - TBC

10:00 The Sand is Shifting – Building Your Castle in a Different Way

Edel Harris – Chief Executive, Cornerstone; Former Chair of Investment Panel, Scottish Investment Fund

• Reducing dependence on a single income source

• Competing for contracts

• Understanding your corporate risk profile

10:25 Social Impact Bonds – The Opportunity and the Challenge

Toby Eccles, Development Director, Social Finance

• What are Social Impact Bonds?

• How can they generate social value?

• What are the challenges for making them work

10:55 Refreshments

SESSION 2

Can this work in Scotland11:15 Legal and Compliance

Perspective

Adrian Bell, Partner, Morton Fraser LLP and Kathleen McLeay, Chief Executive, NCM Finance

• Legally, what Is a Social Impact Bond

• Contractual arrangements: what are the key issues

• Regulatory compliance issues and requirements

11:45 Accounting for Success

Janet Hamblin, Partner and Jim Clifford, Partner, Baker Tilly

• Ascertaining outcomes and defining success

• Measuring for payment by results

• Finance, risk management; or both?

12:15 Who Pays the Dividend?

Fraser Kelly, Chief Executive, Social Enterprise Scotland

• How do we identify which public bodies will pay successful projects?

• What lessons have been learned from previous private finance initiatives?

• How do we ensure fairness for all parties?

12:35 Q&A

12:55 Lunch

SESSION 3

Developing the market13:35 Social Investment –

A Force for Good

Andrew Muirhead, Chief Executive, Inspiring Scotland

• The importance of new sources of funding for the social sector and the challenges these may bring

• The 3 sector approach: essential for landscape change?

• Social Investment: factors on attraction and expansion of available capital

13:55 Public Sector Finances – The Need For a New Approach

Jeremy Peat, Director, David Hume Institute

• There is going to be a severe constraint on public funding in Scotland for a number of years – famine is following feast.

• Cutting capital spend may appear a softer option than cutting recurrent expenditure.

• The search is on for novel approaches to maintain infrastructure spend.

14:15 Future Role of the Banking Sector in Social Impact Bonds

Eric Munro, Director of Community Banking, RBS

• Debt vs equity

• Assessing and creating investment readiness

• Creating effective partnerships

14:35 Q&A

15:00 Close Registration Form

NEXT PAGE

Agenda 14 MARCH 2012 THE ELIM CENTRE, GLASGOW

08:30 REGISTRATION AND REFRESHMENTS

09:30 WELCOME Chair – Annie Gunner Logan, Director, CCPS

Social Impact Bonds Registration To book your place at this event, complete the form below and return it using the details at the bottom of the page. A member of the Spectrum team will then be in touch to confirm your booking.

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