Share price fall hits RNIB income

The Royal National Institute of the Blind looks set to make budget
cuts of £5m because its assets have been hit by the recent
falls in the stock market.

The charity this week confirmed that this year’s stock market price
falls have led to a 15 per cent slump in income from legacies in
the first six months of the year.

Last year, these accounted for 36.4 per cent of its revenue.

Trustees will meet next month to decide where to make the cuts but
the charity said it would try to preserve services for the
blind.

A spokesperson for the National Council of Voluntary Organisations
said that there was no evidence that the fall in share prices would
seriously impact on charities in the longer term.