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Banks told to reveal details of charitable donations
Business digest: Plan would ‘embarrass’ bankers into giving away more of their bonuses
The government is considering plans to force banks to publish details of their charitable donations in an attempt to boost the amount they give away to voluntary organisations.
A league table of banks has been suggested that would show how much each company gave away and what proportion of their bonuses staff donated to charity.
The aim is to "embarrass" financial institutions into giving more money away. The plan has come to light as negotiations between the Treasury and banks continue over whether part of this year's bonuses should go to charitable organisations.
The idea could give David Cameron's much maligned Big Society idea a boost as it involves plans to get banks to donate £1bn or more to voluntary organisations through the the Big Society Bank that was set up last year, but currently only has £60m of cash from dormant bank accounts.
Read a full report in the Times. ·
