UK: Business charity giving cut by a third
Date: 23 Mar 2009
According to a survey of 450 business leaders, corporate giving to charity is expected to drop by a third this year as community budgets suffer the same fate as many other corporate budgets in the face of the recession.
The survey, carried out by YouGovStone for the Social Investment Consultancy, showed that an estimated £1.4bn per year donated is likely to drop to under £1bn, particularly since banks and other financial institutions were amongst the top donors in the past.
A number of respondents suggested that companies involved in cut-backs would look for lower cost, creative ways to support communities instead, such as through increased employee volunteering or gifts in kind.
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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