Report predicting £74bn giving boost unsound, says Saxton

Fundraising | Celina Ribeiro | 20 Jan 2010

A report last week predicting giving could be boosted by £74bn by the introduction of two major donor-centric reforms has come under fire by consultant Joe Saxton.

In an opinion piece published by Civil Society today, Saxton says that there is “not a shred of evidence” to support claims made in a report by Cass Business School’s Prof Paul Palmer (pictured) which suggested an additional £74bn could be directed into charities by the introduction of remainder trusts (lifetime legacies) and light-touch personal trusts.

Saxton writes that fundraisers are “more interested in watching paint dry” than pushing for the establishment of complex remainder trusts.

The sector needs well-researched and rigorous arguments, contends Saxton, adding that he hopes the government does not pay attention to Palmer’s paper.

Prof Palmer issued this response to Civil Society:

"In preparing this report I spoke to over 100 IFAs who advise wealthy people; addressed three conferences of wealth managers and spoke to 20 different legal and accountancy firms about the ideas. I had unanimous approval that such ideas would be looked on favourably by their clients."

Read Saxton's opinion piece here.

Who's Who: Joe Saxton

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