British Leaders Pledge Gifts in Effort to Boost Bequests

Print Share on LinkedIn More

January 15, 2012; Source: The Telegraph | In the United Kingdom, the Legacy 10 Campaign is aimed at getting people to pledge 10 percent of their bequests to charity. To model that behavior, all three of the nation’s party leaders, Prime Minister David Cameron, Deputy Prime Minister Nick Clegg, and Labour Party leader Ed Miliband, have themselves pledged 10n percent from their own wills. The campaign is keyed to a new government policy that cuts inheritance taxes from 40 percent to 36 percent for those making such a pledge.

Currently, only 7 percent of the U.K. population leave a charity legacy in their wills (a stark contrast to the 76 percent that give during their lives).

Additionally, a number of high-profile business leaders have declared themselves in, including Sir Richard Branson, the founder of the Virgin Group; Sir Roger Carr, chairman of British Gas owner Centrica; Sir Nigel Rudd, chairman of airport operator BAA Limited; and Charles Dunstone, co-founder of The Carphone Warehouse.—Ruth McCambridge