Good360
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. 




Got a story to share?

Got a news tip or article idea for Pro Bono News? Or perhaps you would like to write an article and join a growing community of sector leaders sharing their thoughts and analysis with Pro Bono News readers?

Get in touch at news@probonoaustralia.com.au

 Print

Get more stories like this

FREE SOCIAL
SECTOR NEWS

Write a Reply or Comment

Your email address will not be published.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



YOU MAY ALSO LIKE

The importance of ownership in understanding social enterprise

Alan Kay

Wednesday, 1st May 2019 at 8:22 am

Mindset hacks for a bigger impact: Tackling ‘starting the workday’

Clare Desira

Tuesday, 30th April 2019 at 5:47 pm

How disaster-ready are you as a CSR leader?

Contributor

Thursday, 4th April 2019 at 7:50 am

Uncertainty reigns as UK disability minister is nowhere to be seen

Luke Michael

Friday, 29th March 2019 at 3:49 pm

POPULAR

Morrison vows to prioritise NDIS following election win

Luke Michael

Monday, 20th May 2019 at 4:05 pm

Guide dogs business venture set to shake up traditional charity model

Maggie Coggan

Monday, 13th May 2019 at 4:11 pm

Why NFPs need to ask powerful questions

Luke Michael

Thursday, 9th May 2019 at 3:46 pm

Community Sector Banking
pba inverse logo
Subscribe Twitter Facebook

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

You have Successfully Subscribed!