Redrow founder pledges £1m a week to charities

Aaron Morby 2 weeks 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

Boris urged to save UK construction industry

Industry leaders demand tax breaks, retentions returned and quick payment from clients
10 hours ago

Laing O’Rourke cuts pay for 8,000 workers

Contractors confirms cuts of up to 30% as part of "war effort" during coronavirus crisis
9 hours ago

Free training cash offer extended to larger companies

CITB grants of up to £25,000 now available to bigger contractors
4 hours ago

Kier closes Reading office with over 40 job losses

Lack of pipeline work and cost-saving plan cited as reason for closure
15 hours ago

Amey pledges full pay for sick and self isolating workers

U-turn on statutory sick pay after claim workers faced wealth or health choice
15 hours ago

Taylor Wimpey cuts exec pay and bonuses

Board takes 30% pay cut and cancels today's 2% annual pay increase
14 hours ago

Secretary of State pays tribute to construction industry

Letter from Alok Sharma spells out current official government guidance on keeping sites open
1 day ago

Amey/McAlpine told to start M6 junction 19 job

Enabling works get underway on £50m Cheshire motorway junction
14 hours ago

Clugston and Covid 19 sink Leeds civils firm

Coronavirus contract termination with zero payment notice proves final straw for Oaklands
15 hours ago

Boost your online presence – join the Enquirer Directory

Site for suppliers and buyers showcases products, services and latest stories
2 years ago

Giant Battersea Power Station site shut until end of April

Client decides to extend work pause after discussions with Mace and McAlpine
15 hours ago

Coronavirus update for construction: Wednesday April 1

The latest advice and information from industry trade bodies
14 hours ago

Network Rail calls for fresh engineering ideas for tunnel upgrades

Hunt on for less disruptive solutions to upgrading ageing railway tunnels
15 hours ago

Police stops create more confusion for contractors

Sites can stay open but officers are trying to stop builders getting to work
2 days ago

William Hare chief executive dies after contracting coronavirus

David Hodgkiss was the grandson of steel company founder William Hare
2 days ago

Costain banks on critical projects to save 50% of revenue

Directors join ranks of firms taking 30% pay cut
2 days ago

Plans go in for £258m Birmingham resi tower

Moda submits 722 homes for rent plan as it looks beyond coronavirus epidemic
2 days ago

Coronavirus update for construction: Tuesday 31

The latest advice and information from industry trade bodies
2 days ago

BAM Construct restarts work on sites

Mace pauses all work for another week under "rolling suspension"
2 days ago

Hard hat cameras help sites keep working remotely

Technology helping contractors cope during coronavirus crisis
2 days ago

Laing O’Rourke top bosses take 30% pay cut

Around 90 senior directors will see salaries reduced
2 days ago

Kier cuts staff salaries by up to 20%

Salary cuts among 6,500 staff as core sites remain open, but Kier Living jobs closed
3 days ago

Police threaten to fine contractors on way to work

Willmott Dixon asks subcontractors and staff to carry letters to avoid fines
5 days ago

Taylor Woodrow return to profit lifts Vinci UK

Civils arm saw 13 of 17 projects it bid delayed or cancelled
2 days ago

JCB reopens factory to start building ventilators

Plant giant will fabricate steel control panel housings for Dyson designed ventilators
3 days ago

Steel and brickwork trade bodies take stand on Covid 19 safety

Trade bodies lead fight back against bullying main contractors and clients
3 days ago

£300m London new-build housing deal winners

Ardmore, Bouygues, Kier and Midgard win places for first time for £10m-plus schemes
3 days ago

Builders in cross-fire as some clients in Scotland fail to halt work

Contractors blame clients for not instructing work to stop
3 days ago

Unsafe cladding replacement work a priority to continue

Latest government coronavirus construction policy update
4 days ago

Live webinar for contractors interested in £600m power plant

Virtual procurement event for major north London project: Register now
3 days ago

Contractor services