Apparently, charitable giving is going to decrease by some 5% in 2009 then fall another 3% the following year. It’s expected to recover in 2011.
At least, and I use the words advisedly, that’s the view of an economist called Neil Parker, currently with the Royal Bank of Scotland.
But wait.
Is this the same Royal Bank of Scotland that got the price of its recent rights issue so hideously wrong that it could flog only 0.24% of the new shares to existing shareholders?
The same Royal Bank of Scotland that’s consequently gone cap-in-hand to the government for funds after making a paper loss on the issue of £2.4bn?
The same Royal Bank of Scotland we tax-payers have been forced to bail-out to the tune of £20bn? The same Royal Bank of Scotland of which we now own 57.9% as a result?
Pardon me for being sceptical, cynical or just a tad world-weary of economists, but in all honesty I’d rather put my trust into runes, numbles or Mystic-bloody-Meg than some RBS banker.
