NZ to Set Up Fund to Try Break Family Dependence on State Care

In a preview of next week’s budget, Finance Minister Nicola Willis has revealed the establishment of a $190 million social investment fund.

People wait on the street outside Auckland City Mission as they await donations of food and Christmas presents for their families over Christmas in Auckland, New Zealand, on Dec. 13, 2017. Phil Walter/Getty Images

A new Social Investment Agency will be established and put in charge of a $190 million (US$111 million) fund, Finance Minister Nicola Willis has announced as part of a preview of next week’s budget. It will be headed by former police commissioner Andrew Coster.

Social investment is described by Treasury as being about “improving the lives of New Zealanders by applying rigorous and evidence-based investment practices to social services.”