British Charities Mixed on Government’s Budget Plan
April 23, 2009 | Read Time: 1 minute
British nonprofit groups hailed the inclusion of a $29.2-million grant fund for recession-hit charities in Chancellor Alistair Darling’s proposed 2009 budget, but they expressed frustration that the plan slows development of a much-discussed “social investment bank,” Third Sector Online reports.
The grant fund supplements a $62-million action plan for nonprofit groups that the government announced in February. Charity leaders also cheered a program to help create 150,000 jobs for young unemployed people, which they said would draw young people into nonprofit work.
But the budget was criticized for mandating only consultation on creating a social investment bank rather making a firm commitment to put money into it.
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