The current Liberal government has pledged to accelerate the delivery of nation-building initiatives and build Canada’s resilience. However, the affordability crisis has been slowing the economy and affecting communities, while a large portion of retail investors’ money is invested abroad. The social finance sector wants to persuade the federal government that it is part of the solution and that its model aligns with Canada’s challenges.
More than 900 submissions have been made to the federal government’s pre-budget consultations. This year, the non-profit sector has continued its advocacy for affordable housing, social assistance, and a robust arts sector. However, there are competing forces at bay, with companies and other organizations often advocating for policy change, reform and funding that is directly in opposition to the sector's work.
Charities and non-profits are often at the whim of economic cycles. When there is a downturn, donations and corporate giving shrink too. In these times, consistent government funding could support and sustain non-profits, but some are concerned the sector could fall by the wayside again.
According to Charitable Impact, donors often seek to give to maximize their impact, but the charity-centred approach can make that challenging. Instead, their needs are centred by allowing patients and people with lived experience to decide where those funds go.
