Brown gives £5m tax concession to Band Aid
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The Treasury has given the Band Aid charity a £5m boost by promising to refund the VAT on a DVD of the 1985 Live Aid concert and a new CD of the song "Do They Know It's Christmas?".
The Treasury has given the Band Aid charity a £5m boost by promising to refund the VAT on a DVD of the 1985 Live Aid concert and a new CD of the song "Do They Know It's Christmas?".
Gordon Brown said the Government would ensure that every penny from sales of the DVD and CD would go to the Band Aid Trust to support its work in the poorest countries of Africa.
Twenty years ago, Sir Bob Geldof fought a long campaign to prevent the Treasury keeping the VAT receipts from Band Aid's original Christmas number one record. Eventually, Tory ministers agreed to make a donation worth the same amount to charities working in Ethiopia and Chad. Mr Brown headed off similar demands byoffering to refund the VAT on the two new releases. With sales of more than 500,000 DVDs and one million CDs expected, the move is worth an estimated £5m, and will be higher if they sell more.
Sir Bob praised the Chancellor for what he called a "remarkable gesture". He said: "It will be a hugely significant sum of money that will help alleviate the misery of the hungry in Africa."
The Government has promised to make Africa a key priority when it takes over the presidency of the G8 leading industrial nations in January.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments