View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
March 22, 2012

Exclusive: Heads of Charities Write to Chancellor to Complain about Budget

By Spear's

‘As you will appreciate, there is a clear danger that this measure could have the unintended consequence of disincentivising the donation of large gifts to charity.’

Following the angry reaction of charities to the Budget, which proposed a cap on income tax relief, affecting how much philanthropists may want to give, Spear’s has exclusively obtained a letter sent today from the heads of charitable bodies to George Osborne:

Dear Chancellor,

We write regarding the cap on income tax reliefs announced in the Budget and specifically regarding their negative impact upon donations to charity.

As you will appreciate, there is a clear danger that this measure could have the unintended consequence of disincentivising the donation of large gifts to charity. Charities rely heavily on major philanthropy of this kind, and any reduction in giving could be devastating for the many vulnerable people who rely upon our services. The measure also is clearly at odds with the Government’s commendable efforts to promote philanthropy, sending the wrong signal to major donors who have thus far been encouraged to give more.

We know you will want to avoid such an outcome, and we are keen to work with you to do so.

Signed,

Sir Stephen Bubb, ACEVO
Caron Bradshaw, Charity Finance Group
Peter Lewis, Institute of Fundraising
John Low, CAF
John Hemming, Charity Tax Group
Sir Stuart Etherington, NCVO

Content from our partners
Why investors should consider investing in nature
HSBC Global Private Banking: Revisiting your wealth plan as uncertainty abounds
Proposed non-dom changes put HNW global mobility in the spotlight

The government appears to have badly misjudged the effect the income tax relief capping will have on charities and face a revolt from the third sector.

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network