# Minister encourages City firms to donate bonus funds to charity

- Link: https://fundraising.co.uk/2007/02/15/minister-encourages-city-firms-donate-bonus-funds-charity/
- Published: 2007-02-15T00:00:00+00:00
- Author: Howard Lake

Cabinet Minister Peter Hain is encouraging wealthy City firms to donate two-thirds
of their bonus funds to charity to help reduce social inequality.
The Northern Ireland
Secretary told the Sunday Telegraph that “we’ve lost a sense of moral corporate 
responsibility here” with “four thousand City workers receiving more than £1m each
in bonuses,” as they did over Christmas 2006.

Mr Hain is standing for Labour’s vice-leadership. He argued that two-thirds of the
£8.8 billion given in bonuses at the end of 2006 should be given to charity or inner-
city regeneration projects. If no action was told he suggested that new legislation
or tax changes could be introduced, turning it into a “big fight”.

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