This week, Nesta CEO and Network member Geoff Mulgan posted a note on the Nesta titled, “Finance for Impact: the case for transforming public finance to better support evidence, outcomes, engagement and innovation.” In the note, Mulgan describes a number of elements that are currently lacking in public financing systems, including: understanding costs and assets, making budgets transparent, funding innovation and more.
From Mulgan’s summary of the note:
“I show the strengths and weaknesses of current models of public finance, that are primarily concerned with managing money, and raising it, rather than ensuring it achieves outcomes; I suggest some of the emerging priorities for innovation in finance in relation to evidence, innovation and impact; and I offer some thoughts on what a different landscape of public finance could look like.”
