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Finance for Impact

The case for transforming public finance to better support evidence, outcomes, engagement and innovation

This note shares ideas on a long overdue revolution in public finance – that would reshape the tools used to manage public money to better meet the needs of the early 21st century.

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 innovations 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.

I hope the note will provoke a conversation – sharing of promising practices; useful theoretical perspectives; and ideas on how research and action could move things forward. The result could be a new research or action programme for Nesta and other partners.

Finance for Impact: the case for transforming public finance to better support evidence, outcomes, engagement and innovation (pdf)

Please comment down below with your thoughts.

Author

Geoff Mulgan

Geoff Mulgan

Geoff Mulgan

Chief Executive Officer

Geoff Mulgan has been Chief Executive of Nesta since 2011. Nesta is the UK's innovation foundation and runs a wide range of activities in investment, practical innovation and research.

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