Two years on from Brexit, the impact on UK Charities partially remains a grey area. The exact details of the impact are still unclear. However, one view remains clear; the third sector will be economically worse due to Brexit. While it is certain that Brexit will economically challenge the third sector, the final figure of the financial fallout remains unclear.

How much will Brexit cost Charities?
The figure varies, but it is estimated that Brexit will cost the third sector somewhere around £250m, according to the directory of social change. The financial impacts of Brexit in the short term on the third sector are thought to be overestimated, whilst the long term impacts are thought to be underestimated. Brexit may result in a reduced income for charities as grant-making foundations are reliant on investment income. And sadly, alternatives to EU funding are pretty thin on the ground.

How did Charities benefit from the EU pre-Brexit?
UK charities have been recipients of EU funding. In 2015, UK charities benefited from £258.4m in EU funding. From the £258.4m, Welsh charities benefited from £1.7m from the pot. It’s also important to point out that since 2007 the Welsh third sector has accessed around £317million of EU Structural and investment funding. The loss of these funds will challenge the ability of charities to deliver projects that contribute the socio-economic regeneration of deprived areas of Wales. In all likelihood, Brexit will unfortunately directly impact charity funding in the long run

What does this mean for SAFE?
Unfortunately, Brexit means that SAFE now needs your help more than ever. If you’re able to, please donate to bring societies together and make lives better, in the UK and around the world.