FINANCE NEWS: Directors bemoan lack of progress in Brown's statement

The Charity Finance Directors' Group has accused the Chancellor of missing a trick by not addressing the problems of the charity sector in his pre-budget report last week.

The report included progress reports on government initiatives affecting charities, but contained nothing new.

Francis Ingham, the group's policy and campaigns manager said: "The Chancellor's report contained precious little for the charity sector. Indeed, the words 'charity' and 'voluntary' were shockingly absent from not only his speech but also his report. Government has good intentions for the charitable sector but this was a wasted opportunity to show that the financial problems which impede charities - such as irrecoverable VAT for example - are going to be addressed."

However, the Chancellor did confirm that responsibility for the Treasury's £125m Futurebuilders fund will transfer to the Active Communities Directorate at the Home Office in the new year. A fund manager will be announced shortly.

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