Chancellor Announces £750M Aid For Charities

[naomi24]

https://www.bbc.co.uk/news/business-52221402

Good news.

[Mamyalynne]

Wonderful news and he sums it up well in this sentence - "We need the gentleness of charity in our lives".

[237SJ]

I was pleased to hear this during the Gov briefing tonight - particularly as some hospices are in financial trouble.

[tonyav]

Yes, good to hear some positive news.

[MynameisLuca]

The amount of money that people 'normally' donate is huge, but the problem is never solved...Charity, the gift that keeps on giving, to the men/ women at the top!.. Maybe it's time for them to help out now.

[Maydup]

Excellent move and a great relief.

[naomi24]

237SJ, I worry about the hospices too. I was so pleased to hear this news.

[237SJ]

Yes, I've been particularly concerned about the Shooting Star hospice as there aren't many childrens' hospices around and they are in trouble.

[emmie]

it is good news but won't go far enough...

[naomi24]

It probably isn’t enough, Emmie, but with sensible distribution only to charities that play a vital part in our society, it will go further. Let’s hope the ‘woke’ don’t get their sticky mits on it!

[Theland]

I didn't get the full story, but earlier on radio 4 there was somebody twittering about funding for the arts council.
Really? Arts? Incredible.

[naomi24]

^That's exactly what I mean. The arts can wait.

[Tilly2]

Excellent news about charities being supported. I would like someone to explain to me, though, where all the promised funding is actually coming from.

I don't mean just the charities funding but all the other funding statements that have been made.

[naomi24]

Tilly, doubtless there will be a lot of borrowing - we'll be paying for this for years - but needs must.

[Theland]

A huge ocverdaft from the Bank Of England.

[Bigbad]

It is good news, providing it's going to UK charities.

"Shadow chancellor Anneliese Dodds said: "While this announcement is welcome, it falls far short of filling the financial black hole many organisations are facing."

Some people are never satisfied.

[bhg481]

Tilly - in effect, it's a loan. We'll have to pay it back when things start to return to normal and that will mean some tax increases.

[Tilly2]

Thanks for those answers, Naomi and Bigbad. Have you any idea how much has been borrowed due to the situation?

[Tilly2]

Sorry, I meant Theland.

Bhg, thank you. Who's doing the lending?

[bhg481]

The treasury. Each year the Chancellor decides how much money he needs for the projects that the government will be working on and then decides how the taxes will be arranged to get that money. This year there is a sudden requirement for money which wasn't budgeted for, so he dips into his reserves and then has to replace them. Just like you would do if you had a very large unexpected expenditure and had to find the money; you might even have to get a loan, cash in some long-term savings or even scrounge from parents/friends etc.

[Tilly2]

Thank you for explainging that to me, BHG. Now I understand.