High earners asked to donate 1% of bonus to help young people

The consortium comprises Depaul Trust, Get Connected, YouthNet and the Bromley by Bow Centre, and collectively works directly with well over 20,000 children and young people each year.
Their partnership is an attempt to tackle the financial effects of the credit crunch on smaller charities.

The consortium has written to around 50 companies that are handing out large bonuses to staff, requesting that they advertise the "1% Well Spent" scheme to those who earn substantial bonuses. The choice to take part is down to each individual and calls on people to consider the impact that the financial crisis is having on everyone across the UK, especially young people in need.

By donating just 1% of a large bonus, the individual will still be left with the majority of their bonus, but collecting each small contribution together and sharing it between charities with common goals, would make a massive difference to four united charities.

Paul Marriott, Chief Executive of Depaul Trust, says: “This important partnership between Depaul, Youth Net, Get Connected and Bromley-by-Bow Centre is a response by complimentary organisations working with children and young people at community level to urgently address the effects the “credit crunch” is having on them and their families. The current economic uncertainty is severely affecting vulnerable and marginalised young people by placing greater stress on family units, providing even fewer opportunities for employment and training and exacerbating the cycle of social exclusion and despair.

“As a partnership we are already experiencing an extraordinary demand from young people for our accommodation and support services; the continued commitment from the financial sector will enable us to meet that demand and intensify our work to provide a safe, positive future for those young people and their communities.”