Saturday, October 18, 2008

Credit crunch hits charity giving

A spokesman said: "People are struggling with their mortgages and are facing repossessions so they are calling our helpline to ask for advice."

The central London branch of Samaritans said it experienced a 25% increase in calls during August and September, compared with the same months last year.

Oxfam also said it had seen a recent increase in demand.

The Charity Commission expressed concern that the the survey showed three-quarters of charities had not put any new measures in place to deal with the financial crisis, and had no plans to do so in future.

Last week, the National Council for Voluntary Organisations (NCVO) said UK charities feared they may have lost up to 120m of funds invested in failed Icelandic banks.

The NCVO said at least 60 of its members had reported that money may be at risk.

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