FINANCE NEWS: CFDG disappointed at VAT concessions in Budget proposal

The Charity Finance Directors' Group (CFDG) has expressed its disappointment that Chancellor Gordon Brown did not announce concessions on the voluntary sector's VAT and National Insurance burden in his pre-budget report.

The group is dismayed that Brown "yet again ignored two of the biggest fiscal issues impacting on the sector".

CFDG's vice-chairman Les Jones said: "We are disappointed that the Chancellor has granted no further concessions on VAT, or introduced mitigating measures to alleviate the estimated £50 million burden that will fall on the sector due to the increase in National Insurance contributions next April."

However, Jones did welcome the decision to extend the supplement on payroll giving for another year.

Nick Kavanagh, chairman of the Charity Taxation Reform Group, called for the 10 per cent top-up to be extended to individual and corporate giving.

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