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British Charities Press for ‘World Social Bank’

March 31, 2009, 1:50 pm

Leaders in the British nonprofit field are calling on Prime Minister Gordon Brown and other world leaders to abolish offshore tax havens and plow the resulting revenue into a bank to stimulate social investment, Third Sector Online reports.

Mr. Brown, who is hosting this week’s Group of 20 meeting in London, has pledged to take action on tax havens. In a letter, top charity officials urged the prime minister and other leaders to enact such reform “in a way that provides a real boost to the growth” of nonprofit activity.

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