Friday, October 10, 2008

UK charities Iceland loss

UK charities may have invested up to £120m in Iceland's banking system and are calling for support from the Treasury to alleviate any losses. "They are smaller than local authorities and they don't have the same level of financial advice so there's an immediate issue which I think we need to take up with the Treasury," said Stuart Etherington, chief executive of the National Council of Voluntary Organisations.

IMO: I have no financial involvement in Iceland, directly or indirectly but do run a small charity. I have recently been to Iceland and certainly would not have put one penny in any Iceland bank. I am very clear to the point of feeling outraged that it is certainly true that it is almost impossible for a hard working busy small charity (not 'in the know') to get good financial advice in the UK. After the horrible behaviour of the Smith Institute, a Labor so-called "charity" (no worse in fact rather better than the many Tory charity tax coverups IMO), the Labor Government should probably retrieve their own bad image by helping sensibly with problems of small charities, at least until the Govt can win the "tax war". The UK lost the "cod war" but maybe Gordon Brown can win the "tax war".

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