Tuesday 17 March 2020
The formal establishment of the Social Investment Fund is being considered by the States of Deliberation this week - a move which will transform the support the States provides to the charitable and voluntary sector.
Following consideration of the 2018 Budget Report, the States agreed a proposal to establish such a body, and directed the Policy & Resources Committee to undertake the work to establish it. It is built on the principles of a proposal made in early 2017 by the Association of Guernsey Charities.
The Social Investment Fund, which is being incorporated as an LBG, is a vehicle that will use both public and potentially private funds drawn from a variety of sources to invest in the charitable and third sector, and would help build even greater partnership and joint working between the States and the charitable and third sector.
Similar bodies have been set up in other jurisdictions as a way of developing and supporting the third sector work to deliver desired outcomes in an efficient and sustainable way.
Deputy Lyndon Trott, Vice-President of the Policy & Resources Committee said:
"When Deputy St Pier addressed the Community Awards a couple of years ago, he stated that the Social Investment Fund that the States of Deliberation had agreed would ensure we deployed more funding to more organisations more effectively.
"I am confident that with the Assembly's support today, we will deliver precisely that, and help transform the voluntary and not for profit sector in Guernsey - bringing greater capacity, sustainability and partnership.
"The objectives of the Social Investment Fund are indeed to support a strong voluntary sector - capable of addressing the needs of our community, and able to bring ideas and innovation to government.
"It is the third sector's ability to work in different ways to the States that we are seeking to support and enhance. This is absolutely about empowering and enabling the third sector."
Since 2018 work has been undertaken to unlock funding for investment by the Social Investment Fund from resources such as:
- The Guernsey surplus of the Channel Islands Lottery;
- Dormant accounts;
- Seized Asset Funds;
- HM Receiver General funds; and
- The transfer of the jurisdiction of the probate function enabling a grant to be made to good causes.
In February 2019 the Policy & Resources Committee appointed three independent members of the Shadow Social Investment Fund following an open and transparent recruitment process:
- Jurat Stephen Jones OBE, who will also chair the Social Investment Fund
- The Very Reverend Tim Barker, the Dean of Guernsey
- Susie Crowder
Stephen Jones OBE, chair of the Social Investment Fund, said:
"The Board of the Social Investment Fund is excited to have the opportunity to implement this far-sighted decision of the States, and to work on their behalf to support the work of charities and voluntary organisations across the Bailiwick.
"We are absolutely committed to providing sustainability across the work of the third sector, and enhancing the partnership between the government, the third sector and the private sector. The contribution of the charitable and voluntary sector to our community well-being is enormous.
"We are also committed to working transparently, to the highest standards of governance, in the way we invest taxpayers' money back into the community."
More information can be found on the gov.gg/charities page.
