Falling rag prices likely to cost charities tens of millions
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Falling rag prices likely to cost charities tens of millions

1 Sep 2014 | David Ainsworth

Charities are likely to lose tens of millions of pounds this year from a fall in the price of recycled clothing and other textiles, known as rag.

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Falling rag prices likely to cost charities tens of millions

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Macmillan has raised £3m from viral fundraising craze the ice bucket challenge, while the Motor Neurone Disease Association has raised another £2m, the two charities said today.

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The Big Lottery Fund is reviewing the practice of soliciting bids for projects, such as its £1m grant to the Big Society Network charity for Britain’s Personal Best.

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Legacy income rose by 9.7 per cent in the 12 months to 30 June 2014 compared with the same period last year, showing the fastest quarter of growth since before the recession.

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