News round up: Middle-class debt epidemic

Middle-class debt epidemic: Wealthy plunged into crisis by recession

The number of Britons in traditionally affluent areas who are being swamped by debt has more than doubled in the last six months.
Some owe more than £100,000 in credit card repayments and loans.
The recession and resulting increase in unemployment has hit white collar workers in the service sector particularly hard, according to Transact, which co-ordinates debt advice centres across the country.

Read more on this story in The Daily Mail

Charities told to improve governance

The governance of Britain’s £33bn voluntary sector is “not up to scratch” and charities could descend into crisis unless they rapidly strengthen their management boards, a report from an influential think-tank will claim today.

New Philanthropy Capital, set up by a group of former Goldman Sachs bankers looking to improve the UK’s spending of social funds, says large charities should explore mergers as the recession bites to save money and protect vital services.

Read more on this story in The Financial Times