WEALTHY CASH IN ON THE HOMELESS

WEALTHY CASH IN ON THE HOMELESS

The SICKEST PLAN YET for helping the street homeless in the city has been quietly launched by the Reverend’s ‘Housing Czar’ Paul “Wolfie” Smith and the team of bureaucratic scumbags running the council’s housing department.

We hear that the council has quietly handed a contract called a SOCIAL IMPACT BOND to a brand new consortium – Social Impact Bristol Ltd (SIB Ltd) that’s been set up by charities, St Mungo’s, Second Step and Bristol Drugs Project – to support 125 street homeless over the next THREE YEARS.

The devil, however, is in the detail. Because SIB Ltd is funded with a LOAN from Resonance, a “social impact investment company” and Resonance, in turn, obtained the cash for their £112,500 stake in SIB Ltd from “HIGH NET WORTH INDIVIDUALS” seeking a return on their investment.

These investors will get this return when SIB Ltd achieve certain carefully listed “OUTPUTS” or targets from their homeless clients and are rewarded with CASH by the council. SIB Ltd then use the cash to repay Resonance’s loan with interest. This will be passed on to the “high net worth individuals” so that they receive the all-important “RETURN ON INVESTMENT”.

This sicko scheme, marks the start of the financialisation and securitisation of street homeless people for profit in Bristol. It has already been tried by St Mungos in London and been deemed a “SUCCESS“! For who?

Will it be a similar “success” in Bristol and usher in a new golden age of PROFIT to local high net worth individuals directly from homeless misery? And how many homeless clients/victims will be FORCIBLY MANIPULATED through this system designed to make a profit for the wealthy?

Is this the best we can do?

Leave a Reply

Your email address will not be published.