By Natalie Ponting on 16 Mar 2016
There wasn’t a great deal in the 2016 budget that directly affects charities and other not for profit organisations but most charities are likely to feel further pressure as the government continues to focus on austerity spending.
Key points are:
- The government is aiming for a further £3.5bn of savings by 2020, part of which will come from further cuts in funding for local government and police services.
- Further savings will come from reform to the disability welfare, with tougher assessments for claimants of the Personal Independence Payment and reductions in payments for some claimants.
- A new sugar tax on the soft drinks industry will be introduced in two years' time, raising £520m to be spent on primary school sport. This could potentially present a funding opportunity for charities promoting sports.
- Britain's cathedrals will get £20million for renovations ahead of World War I commemorations
- Tax breaks for galleries that go on tour will be introduced.
- £12bn of the revenue raised from the ‘tampon tax’ on sanitary products will go to women’s charities.
- Funds from Libor fines are to be spent on children's hospital services, specifically in Manchester, Sheffield, Birmingham and Southampton.
- All schools must become academies by 2020 or have official plans to do so by 2022.