Government will not refund money lost by charities in Iceland bank collapse
The Government has announced it will not compensate charities that were affected by the collapse of Iceland banks because it could affect the support provided to other charities during the recession.
The Treasury Select Committee said "there would be an unrealistic precedent" if it made a special exemption for charities as many other non-profit bodies, such as councils and universities, have been adversely affected by the crisis.
For more on this story go to:
http://www.charityfinance.co.uk/home/content.php?id=2918&pg=15&cat=58
To read the full Government response go to:
http://www.publications.parliament.uk/pa/cm200809/cmselect/cmtreasy/656/656.pdf
