Mike Pringle questions Government on future of Lloyds TSB Foundation

3.02.00pm GMT Sun 1st Nov 2009

Mike Pringle MSP has questioned Cabinet Secretary for finance and sustainable growth John Swinnie on the future of the Lloyds TSB Foundation and how the Scottish Government plans to respond to their decision to suspend all grantmaking activities.

The Lloyds TSB Foundation fund several charities across Edinburgh South, and hundreds across Scotland but are now locked in a funding dispute with the Lloyds TSB Banking Group about their future funding. Previously the Foundation had been funded through a percentage of Lloyds TSB's profits but as the bank is not set to make any profit this financial year the arrangement has been thrown into doubt.

Mike Pringle said

"Although charities who receive grants from the Lloyds TSB Foundation will continue to receive funding until the end of their agreed term they are right to be concerned about what the future implications of this decision will be. Many charities rely on regular funding from the Foundation and unless this impasse is resolved there is not guarantee that any funding will be in place when grants are due to be renewed.

"There is also the matter of new charities and established causes who are either deserving of funding or looking to expand their activities for whom grants are not longer available.

"The Cabinet Secretary has committed to doing all he can to resolve the current dispute and I will continue to press the Government whilst preserving their independence."

Cabinet Secretary's answer can be found on-line at http://www.scottish.parliament.uk/business/officialReports/meetingsParliament/or-09/sor1029-02.htm#Col20671