Lucy McTernan, Deputy Chief Executive of the Scottish Council for Voluntary Organisations said:

"The Prime Minister’s response to the petition to save the Lloyds TSB Foundation for Scotland is woefully inadequate.

It fails to acknowledge Lloyds Banking Group’s announcement last week terminating their covenant with the Foundation, effectively ending funding to charities just when it’s needed most. This demonstrates a complete lack of understanding of what’s at stake.

The assurances that the Prime Minister seems to have received from the Bank are clearly not worth the paper they are written on. It’s astonishing that the UK Government would accept these assurances without looking any deeper into the dealings of this part-nationalised bank."

ENDS

For more information, please call Sarah Beattie-Smith 0779 060 1995