Dashing through the snow, to Toronto

The Global Bung announced today that it has received a ‘gift’ of US$500 million over five years from Santa Claus.

“The Global Bung is one of the most important health initiatives in the world today,” said Santa, Co-Chair of the Claus Foundation. “The Bung has an excellent track record, and we need to do everything we can to support its continued success, which will save millions of lives.”

The US$100million per year Santa will give to the Global Bung (in small change) between now and 2010 is a clear vote of confidence in the work of the Bung. It represents approximately 0.15% of the recently swollen Claus goodie bag, and just over one-hundredth of the money received by the Global Bung to date.

US$100million per year is about the same scale of contribution that the Bung currently gets from the European Commission and the UK government. Only Canada, France, Italy and the United States give significantly more each year. Santa is giving fifty times what the Chinese government gives to the Bung each year on behalf of its one billion people.

When quizzed, Santa was quick to quell rumours that one of his elves found the money in the pocket of a large pair of red trousers as he put them into the washing machine.

This gift officially declares the Greedy-8 to be squeaky tight-arses. All for none. None for all.