On April 1, the Saskatchewan government announced that June Draude was appointed the legislative secretary responsible for expanding social impact bonds (SIB). I only wish this had been an April Fool's Day joke.
Unfortunately, the Wall government has decided to develop a casino approach to social programs. Instead of simply funding worthy social projects, the government will hand the financing over to private investors who will get paid back in full and with interest at the end of the project. The two investors in the first SIB in Saskatoon are set to earn five-per-cent interest on their investment - that's better than any rates the banks are offering.