LONDON – Bailout for charities

The government on Wednesday announced a £750m package to keep struggling charities afloat during the coronavirus pandemic.

The move by Chancellor Rishi Subak follows increasing concerns that some charities are facing collapse as a result of collapsing income because of cancelled fundraising events and enforced shop closures as part of the lockdown.

Oxfam and Age UK are among a group of large charities to have furloughed two-thirds of their staff.

However, the National Council for Voluntary Organisations (NCVO) has forecast that the charity sector would lose £3.7 billion of income over the next three months, prompted complaints that the new government programme will only cover cash shortfalls for a few weeks.

“While this announcement is welcome, it falls far short of filling the financial black hole many organisations are facing,” said Shadow chancellor Anneliese Dodds.

(Benjamin Fox | EURACTIV.com)

 

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