Tag: Pro Bono Economics

Law Family Commission on Civil Society report says FCA should make philanthropy advice training mandatory for financial advisors

Stuart Mitchell

The Financial Conduct Authority (FCA) should make philanthropy advice training mandatory for financial advisors and introduce regulation to ensure it is discussed with clients, according to a report. New research for the Law Family Commission on Civil Society, carried out by Pro Bono Economics, has called on the FCA to act to improve “the quality and the quantity of financial advice and guidance on philanthropy” in the UK, making four key recommendations. Currently, philanthropy in the UK is worth close to £20 billion annually, but there is an opportunity to…

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Average charity donation of £20 a month will be ‘worth less than £15 by 2024’, study finds

Stuart Mitchell

Monthly charity donations of £20 started in 2017 will be worth just £14.90 by 2024 due to inflation, according to projections.  New analysis by Pro Bono Economics (PBE) and the Charities Aid Foundation (CAF) also estimates that the £5.7 billion of total donations made to charities in the first six months of 2022 will be worth £500 million less by the end of the year, a reduction of 8.5%.  The falling value of donations due to inflation, which is forecast by the Bank of England to peak at 13% later…

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Major whole-sector survey set to capture impact of cost of living crisis on charities

Stuart Mitchell

Charity sector bodies are joining together to launch one of the biggest surveys of the social sector in years. Pro Bono Economics (PBE) and the National VCSE Data and Insights Observatory, run by Nottingham Trent University, are partnering to conduct the survey exploring the impact of the cost of living crisis on charities and community groups. A working group of 14 organisations, led by PBE and the Observatory, is developing the survey. The group includes sector bodies, such as the Chartered Institute of Fundraising (CIoF) and the National Council for…

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Charity staff paid 7% less per hour on average than workers in the rest of the economy

Stuart Mitchell

Charity staff in the UK are paid 7% less per hour on average than workers in other sectors, according to new research. For the first time, new analysis for the Law Family Commission on Civil Societ has quantified the size of the pay gap that has long been recognised between the charity sector and the rest of the economy. The study, carried out by Pro Bono Economics, found that charity sector employees were collectively paid an estimated £1.5 billion less than their counterparts in other sectors in 2019. Meanwhile, recent…

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Haldane – just 0.5% of lockdown savings likely to be donated to charity

Stuart Mitchell

Andy Haldane, Chief Economist of the Bank of England and co-founder of Pro Bono Economics, has today outlined findings from new research into the savings households have amassed over the last year. Haldane has previously identified unleashing households’ huge savings windfall as the one of the keys to turbocharging the UK’s economic recovery from the pandemic. This new research from Pro Bono Economics sets out the scale of the challenge facing the charity sector as it attempts to plug the £10billion funding gap that emerged at the height of the…

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