Later this month, the chancellor of the exchequer Jeremy Hunt will take to the dispatch box to deliver his spring budget.
No doubt there will be numerous leaks, rumours and speculation about what this budget will contain in the press over the coming days and weeks; indeed, they have already started.
Regardless of how accurate these turn out to be, all eyes will be on what action he takes to help the most vulnerable in society through these difficult times.
Hunt has already said his plan remains to halve inflation over the course of the year, reduce debt and grow the economy. This will be his chance to outline more detail on how he plans to do this.
Even if inflation halves by the end of 2023, it will still be higher than in recent years and many will struggle with high prices for goods and services, not least energy bills – especially when the government’s current support scheme comes to an end.
This is true for individuals, businesses and charities. This issue includes our annual Chief Executives Survey, and concerns over the increase in energy bills are a common theme in the comments we received.
The war in Ukraine is one of the principal reasons why these bills have skyrocketed. It is now a year since the Russian invasion and sadly an end to the fighting still does not seem to be in sight.
The Disasters Emergency Committee (DEC) Ukraine appeal has shown the public’s generosity and willingness to support charity, it has now raised over £400m.
Sadly, since the last edition of Charity Finance another tragedy has occurred – the earthquakes in Turkey and Syria. To describe these as devastating seems an understatement. The scale of destruction and death they caused is tragic.
There is a natural desire to want to help in some way, and once again donations have poured in to fundraising appeals, including to the DEC.
Given the cost-of-living crisis, there is concern in the sector that donation levels will fall as supporters have to make budget cuts. These two tragic events show that even in times of economic difficulties, those that are able, are still willing to support others in need through charities.
As we endure these difficult times and look to better days ahead, this generosity perhaps provides some comfort and inspiration.
Tristan Blythe is editor of Charity Finance
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