British Companies Expect Big Cuts in Giving

Charitable giving by British businesses is likely to fall by more than a third over the next year, according to a new survey of corporate leaders, reports the Financial Times.

The poll of 450 business leaders, carried out for the philanthropic advisory firm Social Investment Consultancy, says companies are planning to reduce donations 34 percent as a result of the financial crisis. Based on current giving patterns, this equates to a drop of $723.4-million.

Despite the downturn, the British public is largely maintaining giving habits, Third Sector Online reports. A February survey of British consumers found that 79 percent donate regularly, and 58 percent have not changed their giving.

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