Thank you.
In one of the studies that we have looked at from the Canadian Journal of Nonprofit and Social Economy Research, they say this in terms of the challenges to government, and I'll ask you your thoughts on it. Under the section on challenges for government, they say there is a consensus in the literature that the shift to SIBs—basically a social impact bond—will not reduce bureaucracy and cut public sector costs. The costs of administrative change required by a comprehensive shift to SIBs would be significant.
They go on from there talking about the skills that are required, etc.
Do you have any thoughts on that in your experience so far on social finance and moving that way? Are there costs? Do we reduce bureaucracy?