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Charity donations by corporates see 0.2 per cent drop
Third Sector, 4 September 2002
Business donations to charity are falling, according to the Directory of Social Change, whose researchers feel the UK's levels of corporate philanthropy are disappointingly low.
The 504 UK companies listed in The Guide to UK Company Giving gave a total of £289 million in cash to charities in 2000-2001. When gifts-in-kind and volunteering are included, these companies' total philanthropy was £502 million, or 0.42 per cent of pre-tax profits.
This is 0.2 per cent less than the previous year and a blow for Chancellor Gordon Brown who said at the NCVO annual conference at the beginning of 2000 that he wanted to see a "new chapter in corporate giving
begin.
The figure is well short of the Per Cent Club's millennium standard of donating one per cent of pre-tax profits. Only 57 companies met this level of support.
The largest contribution to charity came from Lloyds TSB, which gave £40 million or 1.03 per cent of the company's pre-tax profits.
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