NDIS Criterion
MEDIA, JOBS & RESOURCES FOR THE COMMON GOOD
NEWS  | 

UK Bank Bonuses to Charity?


Thursday, 20th January 2011 at 10:12 am
Staff Reporter
The UK’s peak volunteer organisation says bankers should give their bonuses to charity.

Thursday, 20th January 2011
at 10:12 am
Staff Reporter


0 Comments


FREE SOCIAL
SECTOR NEWS

 Print
UK Bank Bonuses to Charity?
Thursday, 20th January 2011 at 10:12 am

The UK’s peak volunteer organisation says bankers should give their bonuses to charity.

The Chief Executive of the National Council for Voluntary Organisations (NCVO), Sir Stuart Etherington, made the call ahead of giving evidence to the UK Public Administration Select Committee, in London.

Sir Stuart says bankers' bonuses are expected to hit £7bn ($AUD11.2 billion) this year: that's more than the combined annual expenditure of all the UK's health, environment and community development charities.

He says high-earning bankers should set an example by donating money to help the people and the communities who have been hit hardest by the recession.

NCVO is a founding member of the Robin Hood Tax Campaign, which is calling for new financial sector taxes to help tackle poverty and climate change, in the UK and in dozens of countries including Australia.

Sir Stuart says his organisation is a wholehearted supporter of the Robin Hood Tax Campaign, and reform of the banking system is essential, but it will take time.

In the interim, he says bankers should do the right thing and give their money to make a huge difference to individuals and communities.

He also says that a rise in giving by the wealthy would provide a vital shot in the arm for the voluntary and community sector, at a time when it is facing serious funding difficulties coupled with an increase in demand for its services.

In Australia, bank chiefs have particularly incensed business entrepreneur and philanthropist Dick Smith.

In the lead up to Christmas he wrote to the chief executives of the nation's four major financial institutions urging them to give away a fifth of their income.

Smith claimed that none of them pledged their support and only the Commonwealth CEO Sir Ralph Norris wrote back telling him he gives to charity privately. 



FEATURED SUPPLIERS


Helping the helpers fund their mission…...

FrontStream Pty Ltd (FrontStream AsiaPacific)

HLB Mann Judd is a specialist Accounting and Advisory firm t...

HLB Mann Judd

Brennan IT helps not-for-profit (NFP) organisations drive gr...

Brennan IT

NGO Recruitment is Australia’s not-for-profit sector recru...

NGO Recruitment

More Suppliers

Get more stories like this

FREE SOCIAL
SECTOR NEWS

YOU MAY ALSO LIKE

Warning to CEOs – CSR May Get You Fired, Study Finds

Lina Caneva

Tuesday, 24th October 2017 at 10:07 am

LEGO Comes Top For CSR

Wendy Williams

Wednesday, 4th October 2017 at 8:57 am

Matched Giving with Charity Gift Vouchers is the Perfect Match

Naomi Barson

Thursday, 17th August 2017 at 11:07 am

POPULAR

Disability Advocacy Group Fights to Restore State Funding

Luke Michael

Thursday, 9th November 2017 at 8:37 am

Red Cross Moves to Wage-Based Fundraising Model

Lina Caneva

Thursday, 16th November 2017 at 8:30 am

New Same-Sex Marriage Bill Looks to Protect Faith-Based Charities

Luke Michael

Monday, 13th November 2017 at 5:25 pm

Donors Looking for a Personalised Experience to Give More – Study

Lina Caneva

Wednesday, 8th November 2017 at 1:43 pm

Write a Reply or Comment

Your email address will not be published. Required fields are marked *


NDIS Criterion
pba inverse logo
Subscribe Twitter Facebook

The social sector's most essential news coverage. Delivered free to your inbox every Tuesday and Thursday morning.

You have Successfully Subscribed!