The charitable foundation at the centre of a funding row with Lloyds TSB gave almost £1million to charities in Fife over the course of the last three years according to figures released to North East Fife MP Sir Menzies Campbell.
Lloyds Banking Group has announced plans to cut the funding it gives to The Lloyds TSB Foundation for Scotland because of the financial crisis. Hundreds of charities across Scotland, including many in Fife, now face significant cuts in their funding. The Foundation has announced it is suspending its grant-making activities for the foreseeable future while it looks for alternative funding. It will honour all existing funding agreements.
Commenting, Sir Menzies Campbell said:
“Over three years the Lloyds TSB Foundation for Scotland has awarded almost one million pounds to Fife charities. This money has made a huge contribution towards improving the lives of some of Fife’s most vulnerable people.
“The Foundation has helped by providing larger grants for major projects, but it also supports smaller projects through funding for toddler groups, daycare centres and families struggling with debt problems. If the Foundation’s future funding is put at risk, some of those most in need in Fife will suffer most.
“Lloyds Banking Group has received massive support from the taxpayer. It goes against the grain that the Banking Group has chosen to downgrade its charitable activities in favour of commercial priorities.â€
