Chancellor unveils charity tax boost

The chancellor outlined the case for a ‘new and stronger relationship between individuals, communities and government’ in a four point plan. The plan includes:

tax changes to promote individual giving;

tax changes to promote corporate donations;

measures to promote the giving of time and volunteering; and

measures to develop a new role for voluntary organisations.

The Chancellor said: ‘I want to outline the case for a new and stronger relationship between individual, community and government – for the renewal of British civic society – or a great British society which not only defines the importance of voluntary organisations, but engenders a civic patriotism.

‘I want to propose a new financial foundation for this civic renewal – a modern financial foundation for charitable, voluntary and community action.’

The chancellor confirmed his pledge to ‘put charities on a firm foundation for the future.’ He encouraged charities to exploit the new tax regime which makes it easier for individuals and companies, to give with the aim – ‘millions more giving so that by the end of the year 2002, as a people, have given a £1 billion more.’

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