Pre-Budget Report 'Disappointing'

10th December 2003

Pre-Budget Report 'Disappointing'

The Charity Finance Directors' Group today expressed disappointment at the Pre-Budget Report.

Responding to the Chancellor's annual analysis of the economy, CFDG said that the Chancellor had missed the opportunity to address major problems which impede the charitable sector -in particular, irrecoverable VAT.

The Chancellor's announcement included good news for sports clubs, but little else for charities.

Francis Ingham, CFDG's Policy and Campaigns Manager said:
"The Chancellor's report contained warm words, but little new action for charities. This is particularly surprising given the Government's other activities to support charities -the current Infrastructure consultation being just one example.

The Government has good intentions for the charitable sector, but this was a wasted opportunity to show that the financial problems which impede charities -irrecoverable VAT for example- are going to be addressed. "

For further information, please contact: Francis Ingham at CFDG on Tel: 020 7793 1400

Notes to Editor:

1. The Charity Finance Directors' Group was set up in 1987 and is an umbrella group that specialises in helping charities to manage their finance-related functions. CFDG's 900 plus members are responsible for the finances of charities with a wide variety of income levels. Over 60% of the top 500 charities are members of the CFDG.


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