Britain’s highest earners have been donating less to charity despite soaring incomes, according to a probe of tax records that found society’s wealthiest are getting richer but meaner.
Charities have missed out on more than £2bn as a result of a widening “generosity gap” as the nation’s top 1% of earners reduced their average declared giving by a fifth in real terms from 2012 to 2019. Over the same period donations from the rest of the population rose.
Approximately 344,000 highest earners who received more than £175,000 before tax accounted for 17% of the UK’s pre-tax income, including capital gains, over that period but made just 6% of all charitable donations.
Charities are facing a fresh fundraising crisis sparked by the new Covid wave
Read more on theguardian.com