Disappointment at Lack of Vision for Philanthropy in Budget

There was no mention of philanthropy or charitable giving in the budget which was disappointing. Lobbying ahead of the Finance Bill will continue.“For transformational philanthropy to happen in Ireland we need a more enlightened approach from government” said The Community Foundation for Ireland’s Chief Executive Tina Roche. “This includes decoupling, a review of the cap, a focus on long-term estate planning and incentives around this and an acceptance that philanthropy should be cherished, nurtured and promoted”.

The 2% increase in VAT is also bad news for charities. ICTR’s Sheila Nordon said “unlike businesses, charities cannot recover VAT paid on goods and services. The VAT hike will increase costs in an already difficult fundraising environment and when demand for services from charities from those most in need is on the increase. Charities are already giving the Government over €35 million a year in VAT, money that could be used to fund vital services in the recession”.