Martin Lewis, the MoneySavingExpert founder who is giving away more than £10m of his fortune, has warned that many charities are at risk of collapse as a result of Covid-19 and has called for an urgent government bailout.
The financial journalist has funded a study into the sector, which faces, according to some estimates, a £10bn black hole in its balance sheet as charity shops remain shut and fundraising events continue to be cancelled.
Lewis highlighted the increased focus on health charities, such as the NHS-linked fundraising efforts by Captain Tom Moore, as contributing to an “existential risk to other charity sectors”.
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