Britain’s Character of Philanthropy
from The Independent (U.K.):
Who wants to be a billionaire? I don’t
British philanthropy took a significant hit from the recession, with total donations down by 11 per cent last year and pledges of £1m or more falling 13 per cent. But if the Gates “giving pledge” was heeded by all of the UK’s billionaires, it could yield up to £60bn.
Even in good times, British philanthrophy is a shadow of that in the US, where benefactors are both more upfront about giving, and simply do more of it. However, the situation is changing.
Theresa Lloyd, an expert adviser on philanthropy, said: “The idea of an obligation to fellow citizens and future generations is very powerful in the US, whereas here it is not. But things are changing, and over the next 10 or 20 years will change even more.”