A research conducted in the UK has shown that the richest people give smaller of their proportions for charity than average people.

The proportion suggested that British millionaires/billionaires donate just one per cent of their wealth to boost the sector by 12 billion pounds (15.1 billion dollars).

“UK’s richest people give a smaller proportion of their wealth to charity than the average person.’’

The sum could be raised if each of the UK’s estimated 536,673 millionaires known as high net-worth individuals were to donate one per cent of their investable assets, the Charities Aid Foundation (CAF) said.

Their research suggested this group gave the equivalent of 0.4 per cent of their combined investable assets worth 2 trillion pounds overall in 2023.

This equated to an estimated 7.96 billion pounds.

Meanwhile, the wider UK public donated an estimated 13.9 billion pounds to good causes in the same year, equating to 1.6 per cent of their income.

CAF said its report also revealed that the UK’s wealthiest people tend to support “significantly different’’ causes to those supported by the rest of the public.

The UK’s most popular cause was animal welfare, with 28 per cent of the general public donating.

Education was the most popular cause for wealthy donors, supported by six in 10 high-net-worth individuals compared to 4 per cent of the rest of the population.

Arts and culture were supported by just over a quarter (26 per cent) of millionaires who donated, compared to 3 per cent of the general public.

Edward Garrett, from CAF, has said that the UK has a strong history of philanthropy, which has been behind some of our most important innovations and funds crucial charitable services throughout our country.

“But there is cynicism towards philanthropy in the UK, perhaps more so than other countries.

“There is considerable untapped potential for philanthropy to contribute towards tackling local, national, and global challenges.

“Donors, particularly among the next generation, are increasingly considering their giving as part of the spectrum of capital they can invest within the broader impact economy.

“The Government can take steps to harness this and renew Britain’s culture of giving to strengthen civil society for the future, with high-net-worth individuals and professional advisers playing a leading role.’’