# Unlocking assets could free £1 billion to support coronavirus fight

- Link: https://fundraising.co.uk/2020/04/17/unlocking-assets-could-free-1bn-to-support-coronavirus-fight/
- Published: 2020-04-17T08:34:58+01:00
- Author: Melanie May

**Analysis by the Charities Aid Foundation suggests that unlocking assets could 
release £1 billion to help charities during the coronavirus outbreak.**

 

 

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CAF’s [report](https://www.cafonline.org/about-us/publications/2020-publications/a-covid-19-philanthropy-stimulus-package)
recommends a raft of measures to unlock charitable assets, harness unclaimed Gift
Aid and stimulate new giving to causes hit by the pandemic, with recommendations
for government, regulators and charities.

 

 

 

Proposals include:

 

 

 

 * Temporarily removing the need for people to make a Gift Aid declaration in order
   for the charities to receive the 25% additional benefit on every donation. It
   is estimated that £600m in Gift Aid is currently unclaimed each year
 * Introducing “living legacies”  which allow people to bring forward the kinds 
   of gifts they might make in their will – allowing charities to plan ahead and
   potentially borrow money against future assets
 * Unlocking the assets of the £500m National Fund – a charity set up in the 1920s
   to repay the national debt whose assets have been locked away for nearly 100 
   years
 * Easing efforts to release millions in unused cash from dormant charities
 * Creating a coronavirus big philanthropy pledge to encourage donations from wealthy
   individuals and businesses

 

 

 

 

 

 

CAF believes its proposals could significantly supplement the £750m Government aid
package for charities announced by Chancellor Rishi Sunak.

 

 

 

Rhodri Davies, Head of Policy at the Charities Aid Foundation, said:

 

 

 

> “In these times of crisis we need to employ radical ideas to bolster the charities
> which are an integral part of life in the UK. These proposals include elements
> which, in normal times, would not be considered but these extraordinary times 
> call for extraordinary measures to help protect the invaluable work of charities.
> “The Chancellor recently brought forward welcome and important support for charities
> but was clear that he couldn’t intervene to help them all. We hope these bold 
> ideas will be taken up by Ministers, regulators and our colleagues in the charity
> world to unleash support that we need now to keep charities alive for the future.
> “The contribution of charities has never been more evident and every course of
> action we can take to ensure they will be there to continue helping society’s 
> most vulnerable needs to be considered at pace.”** **

 

 

 

The full briefing paper can be [downloaded from the CAF site](https://fundraising.co.uk/2020/04/17/unlocking-assets-could-free-1bn-to-support-coronavirus-fight/a-covid-19-philanthropy-stimulus-package).****

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