Cuts also take philanthropists too far, and music lessons become unaffordable, Kerkrade retains its theatre

'Philanthropists cannot absorb cuts'
(...) "Funds are less and less willing to just write a cheque. Owners want to be involved, contribute their expertise and measure impacts. They ask about the applicant's objective, how they intend to achieve it and whether it is measurable. (..)
"On average, a fund pays out 4 per cent of its assets every year. So that would amount to 800 million a year. To achieve that, a fund does need to have a return of 5 to 6 proce...