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Charities struggle in recession

DaveH — Tue, 26 May 2009 16:34:28 +0000

Charities ability to carry out vital work is being undermined by a huge fall in the level of donations. More than half of them have been affected by the economic downturn according to data published by the Charity Commission, with a third putting in measures such as dipping into reserves, reducing staff and increasing fund raising.

Oxfam, which derives 80% of its income from its 714-strong network of shops, has announced a 12% fall in the number of donations being received – the first drop in eight years.

The impact of the financial downturn on charities has widened and deepened, with many facing the double whammy of falling income and increasing demand for services.

Source: Daily Express 24-05-2009

Spending on credit cards down 3%

SteveG — Mon, 18 May 2009 14:56:53 +0000

According to the payments association Apacs, UK consumers have turned away from credit card spending during the recession. Spending on credit cards dropped by 3% in the first three months of 2009, compared with the same period in 2008.

However, increased use of debit cards meant spending on plastic cards was up 5.4% over the same period to £94.2 billion. The number of purchases made on cards was also up, by 6.5%.

Moving in the opposite direction was the use of cheques. In the first quarter of 2009, the number of cheques used fell by 10.6% and the total value of cheques dropped by 9.4%, compared with the same three months in 2008.

Source: BBC 15-05-2009