Plea for plan over Iceland crisis

Voluntary sector calls for government action to help charities with money in failed banks

Four voluntary sector representative bodies are writing to City minister Paul Myners this week urging him to spell out how the Government proposes to help charities with money tied up in failed Icelandic banks.

The move comes amid growing frustration at ministers' refusal to pledge support for the estimated 48 charities that have up to £200m at risk.

Treasury minister Angela Eagle last week rejected a suggestion from her Conservative shadow Mark Hoban that the Government establish a temporary funding facility for charities with money in Icelandic banks.

Chief executives body Acevo, umbrella body the NCVO, the Charities Aid Foundation and the Charity Finance Directors' Group are writing to Myners.

"This delay is causing great concern," said Stephen Bubb, chief executive of Acevo. "All those involved want to put next year's budgets together and need to know what the Government is proposing."

Stuart Etherington, chief executive of the NCVO, called on the Government to guarantee that "no charity will go under while waiting for their funds to be returned".

John Plummer recommends

Acevo

Read more

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus