Redrow founder pledges £1m a week to charities

Aaron Morby 7 months ago
Share

Redrow Homes founder Steve Morgan is pledging to channel £1m a week to charities hit by the coronavirus outbreak.

Morgan says: "We have to respond now and get over the immediate crisis. That’s when we should review it."
Morgan says: "We have to respond now and get over the immediate crisis. That’s when we should review it."

The cash will be distributed through the Steve Morgan Foundation to charities in Merseyside, Cheshire and North Wales.

Morgan, who founded Redrow in 1974, has also urged other entrepreneurs and philanthropists to do the same.

“The £1m per week will go into a war chest because we are at war against coronavirus,” he said.

“People who know me know I don’t like the limelight but now is not the time to hide in the shadows.”

The father-of-six made the decision despite seeing an estimated 50% wiped off his own fortune in the past month by the economic crash caused by Covid-19 but said it wasn’t important compared to the humanitarian crisis the world was facing.

He said: “Aside from the obvious difficulties that the charities are facing, supporting thousands of disadvantaged people, this crisis has already caused substantial cashflow issues. Normal day-to-day fundraising efforts that the charities undertake have been pulled from under them.

“The London Marathon alone puts around £65m into the charitable sector.

Morgan said that the foundation had already been approached by more than 50 charities desperately needed funding. One in just one day had 248 additional people register for their foodbank.

“As the economy shrinks it will be the charities and the vulnerable people who suffer first and we can’t allow that to happen.

“We wish we could help the whole of the UK but we can’t. Our Foundation is committed to helping charities in Merseyside, Cheshire and North Wales and we’ll continue to do that. We urge others across the UK to follow suit.”

Latest news

Green light for £1bn London hotel

Kensington Forum scheme is huge vote of confidence in capital's hospitality sector
4 mins ago

Lone Star offer to buy McCarthy & Stone for £630m

Private equity investor swoops with recommended cash offer to buy retirement homes specialist
4 hours ago

Legal & General signs construction deal with nine contractors

Southern construction partners chosen by Inspired Villages - more regions now up for grabs
3 hours ago

Priti Patel snubs plea to ease controls on foreign brickies

Some big brickwork contractors warn four in five workers are EU nationals
4 hours ago

Plans in for Poole quay housing and hotel scheme

Fisherman's Dock plan for 228 flats and boutique hotel
4 hours ago

McAleer & Rushe bounces back with £350m haul of orders

Spate of wins restores two-year order book to near pre-Covid levels
4 hours ago

Graham signs off £161m Aberdeen hospital deal

Work to start next month of Baird Family Hospital and ANCHOR cancer centre
4 hours ago

ISG starts new £50m Royal Marsden cancer centre

Oak Cancer Centre due for completion in Summer 2022
24 hours ago

Vital Energi lands £6.58m energy centre deal

Specialist to build Combined Heat & Power centre on Galliford Try site
19 hours ago
Vital Energi

Causeway Donseed offers non-contact site monitoring

Facial recognition makes access control Covid safe
18 hours ago

Osborne wins prelims for £1.7bn Stonehenge route

Record £35m archaeological protection and excavation deal also signed
1 day ago

Industry door and window supplier collapses

North West's Total Glass falls into administration
1 day ago

Hill Group launches £300m London land grab

Land buying drive to boost housing pipeline in the capital
1 day ago

Mace £500m Stevenage town centre revamp approved

Mace says town centre plan is a blueprint for Government build back better ambitions
2 days ago

McAleer & Rushe wins Brixton archive and homes job

Final phase of Muse's Lambeth Town Hall scheme gets underway
1 day ago

Alumasc and Travis Perkins see sales continue to rise

Post lockdown demand continues but commercial construction lagging other sectors
1 day ago

Big name winners confirmed for CITB management training cash

Major contractors get £2.8m towards in-house training for senior staff
2 days ago

B&K starts £70m MediaCity resi scheme

14 and 17 storey blocks will contain 280 flats for sale
2 days ago

Civils outfit Bemus heads for liquidation owing £4.6m

Founder Sean Walsh applies for creditors voluntary liquidation
2 days ago

UWE Bristol to tender 900-bed student digs

Trio of six-storey blocks to be built at Frenchay Campus.
2 days ago

Amey trials pothole repair material made from old tyres

Unique rubber-modified material may be coming to Sheffield’s roads
2 days ago

HS2 reveals low-slung viaduct designs

Northamptonshire Edgcote and Lower Thorpe viaducts designed to be unobtrusive
3 days ago

Van Elle wins HS2 ground improvement deal

Firm will vibro pile 4,000 stone columns in north west London
3 days ago

Skanska wins Bristol Temple Street office job

Work to start next month on One Portwall Square project
3 days ago

Three sisters set-up plant hire business

Finnegan sisters buy first kit after securing funding deal
2 days ago

Network Rail SME spend tops £2.5bn for first time

Small and medium-sized firms account for 36% of total rail spend
3 days ago

Construction fears force immediate evacuation of London estate

Inspections raise serious concerns about Berkeley-built modular housing and student blocks
4 days ago

Bellway recladding costs overshadow hit from Covid

Pre-tax profit slumps 62% after £47m set aside for recladding and extra Covid costs
3 days ago

Workers stunned by construction pay freeze plan

Union slams "missed opportunity" to reward workers who have continued throughout pandemic
4 days ago

Former Multiplex chief joins data centre giant

Ashley Muldoon turns client after taking COO role at Global Switch
3 days ago

Contractor services