Charity Finance Directors Disappointed at Lack of Concessions on VAT and National Insurance

27th November 2002

The Charity Finance Directors' Group (CFDG) has today welcomed the voluntary sector initiatives announced by the Chancellor in the Pre-Budget report.

Les Jones, CFDG Vice Chairman commented, "We welcome the proposals to extend payroll giving, the consultation on corporate volunteering, and the financial scheme to help low income youngsters take a year out volunteering in the community."

However CFDG was disappointed that the Chancellor yet again ignored two of the biggest fiscal issues impacting on the sector. Commenting on these failures, 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."

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