UNLOCKING WEALTHY GIVING ESSENTIAL IN PUBLIC SPENDING SQUEEZE FUTURE

January 11, 2010 12:00 AM

Commenting on today's publication from the Centre for Policy Studies entitled, A Step Change in UK Philanthropy, Jenny Willott, Liberal Democrat Charities Spokesperson, said:

"These proposals are welcome given the expected future squeeze on public spending, which will undoubtedly affect the third sector. It is essential that we unlock charitable giving from the wealthy.

"Labour has categorically failed to entice those who have made so much money over the last few decades to give extra to charitable causes. And despite snuggling up to the City, there is nothing to suggest that the Tories will have any more success.

"In this report, in particular 'Remainder Trusts' are an appealing way to unlock considerable extra money in interest accrued on donations, whilst keeping open the option to claw back the initial donation in an emergency.

"I'd also like to see integrated 'easy giving' accounts alongside normal high street bank accounts. This would make it much easier to give and claim tax relief, whilst offering the sector a new virtual platform to pitch to potential donors."

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