Charity begins where?
Taxpayers set to hand Lloyds another £5bn - Scotsman.com News
Lloyds' charity covenant 'safe for nine years'
Hundreds of Scottish charities face an uncertain future after Lloyds said it was to cut its foundation's funding – which is worth at least £6 million a year – in the wake of the financial crisis.
Mary Craig, chief executive of the foundation, said the bank would need to give almost a decade's notice if it wanted to change its funding arrangements.
Ms Craig said: "The last thing we want is a public fight with the bank. We tried to avoid this.
"The bank can only get out of the covenant if they give nine years' notice."
Taxpayer gives to Lloyds who give to their foundation which doles out money to their favoured charities. I think I get it and that is why I always tell charity chuggers that I have already given.