£2.2bn drop in charity sector income forecast after autumn statement

The UK charity sector’s income will decline by £2.2bn in real terms by the end of 2023-24, a snap analysis following yesterday’s autumn statement has forecast. Pro Bono Economics estimates that charity income will rise by around £1bn in cash terms during 2023-24, but if costs rise in line with broader inflation then the real value of that income for the charity sector will decline by £2.2bn. It estimates that the sector’s income in 2022-23 will be £60.6bn, while in 2023-24 it is expected to be £58.4bn. The think tank looked at rising costs, government spending plans and household finances, and analysed the new data from the Office for Budget Responsibility. Read more on the Civil Society website.