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21 October 2009

John Barrett expresses disappointment at suspension of Lloyds Foundation funding

Edinburgh West MP John Barrett has expressed his disappointment after the announcement that the Lloyds TSB Foundation for Scotland is suspending its grant application process.

Since its establishment in 1985, the Lloyds TSB Foundation has made over 12,000 awards to charities across Scotland, at a total cost of almost £85 million. Borders charities that have received funding from Lloyds in the past include the Scottish Borders Disability Forum and Interest Link Borders, a charity that seeks to improve the quality of life of adults with learning difficulties by providing a befriending service.

The decision to suspend grants was made after the Foundation and the Lloyds Banking Group were unable to reach agreement on the terms of a new funding agreement. The charity has pledged to honour existing commitments in full, but will accept no new funding applications after the final round of awards are confirmed in December. It is thought that the suspension of these grants will see Scottish charities miss out on at least £6 million a year in funding.

Commenting, John Barrett said:

“With the current economic downturn charities have been finding it increasingly difficult to  raise the fund they need to survive.

“Although the news that existing funding commitments will be met will come as a relief to those organisations in Edinburgh and Lothian that had secured financing from the Lloyds TSB Foundation in previous funding rounds, the suspension of these grants is likely to have a profound effect on the services that non-profit groups all over Scotland will be able to provide in future.

“We must hope that the Foundation and the Lloyds Banking Group can reach agreement on the terms of a new funding agreement and that the grant application process is resumed as soon as possible.”

Lloyds TSB Foundation

Lloyds TSB Foundation

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This website was established while I was a Member of Parliament. The site content is being kept online as a source of information, but all forms / email have been disabled.