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This has been alleviated to some extent by the UK Government's decision to allow an increase in council tax of up to 2% to fund increasing social care costs.
An Australian investor in real estate, Westfield Holdings, bought a quarter of Rodamco North America for $490 million from Stichting Pensioenfonds, a Dutch pension fund, increasing its ownership of shopping malls in the United States.
Together, the five streams gave a total £278m in 1998-99, rising to £391m by 2000-01, withethe share of money awarded by the community fund increasing from 37%to41%1%.
The Scottish government insists it does not have the resources to fund increasing legal aid bills or supplement doctors' pension payments because of cuts in its block grant funding by the UK government.
On June 20th the European Union restructured its interim bail-out fund, increasing its lending capacity to €440 billion from an effective limit of €260 billion by getting France, Germany and others to guarantee more of its debt.
And to reduce the impact on the deficit, it also includes a stiff increase in the fee paid by oil companies into a liability fund, increasing the current eight cent-per barrel charge to 49 cents.
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Consequently, spending from the fund increased to about $900 million.
First the hedge fund increases its stake in a company.
But the fund increased its financing package under pressure from the United States Treasury Department and Western investors.
Och-Ziff's Europe-focused portfolio was up 1.87 percent and its Asia-focused fund increased 1.33 percent.
Overall giving to the annual fund increased 14% from the previous year.
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