Alastair Stewart: A new age of philanthropy can and should be the way forward

I never felt encouraged to buy smoke because I was an undergraduate at Bristol University, funded by WD & HO Wills.

I’m equally certain my son never felt the need to become an Anglican while attending attending Winchester College, founded by Bishop Wykham

That said, I have always admired companies who pour money into Universities - like Boots and Nottingham, and Rootes and Warwick.

Internationally, it seems to me to be splendid that billionaires like Bezos and Gates can did into their deep pockets to tackle malaria and global warming.

They tend to be individuals and companies who have displayed an ability to create wealth by meeting public demand.

That they also share that wealth to meet public need seems a win-win.It is often more reliable and more effective that the taxation Government’s pursue them for, with varying degrees of success, and the money they spend on avoiding those taxes.

Incidentally, I also believe charities get things done better by those who care - rather than by Governments and civil servants who try because they feel obliged to do it.

That was at the heart of David Cameron’s Big Society - a policy he really should have stuck with!All of that said, I do not want dodgy types or dodgy countries buying our kids brains.

I think we need good due diligence in assessing whether we really need some of that cash given its sources or the motivations of some of the donors.But the ones that pass muster deserve huge tax relief for their donations.

And we should do whatever we can - through tax - to offer maximum support to our charities.

We need great public services , including great universities.

If the rich and successful, or at least those with clean hands, want to pay for it, I say hurrah, bring it on.

A new age of philanthropy can and should be the way forward.