The assumption with the bond is that you will find an intermediary who will bring some outside money and that you will find an appropriate service delivery agency and will set targets that would not otherwise have been set. The assumption is that you're forcing efficiency on service delivery. There are different ways you can do that depending on the targets you set. It could be a cost target, for instance, and you could do that by offering lower wages, as an example. I hope we're doing something more constructive than that. I think the basic assumption behind social impact bonds is that you are requiring innovation by virtue of the model of delivery. What I'm saying is that we should be requiring that innovation regardless of the model of delivery.
On March 26th, 2015. See this statement in context.