According to a new report the Northern Rock crisis will have a significant impact on funding for community centres, welfare organisations and arts groups in the Northeast and Cumbria. The charitable arm of Northern Rock and one of the UK's largest corporate funders, the Northern Rock Foundation, has announced cutbacks to its grants. Under a three-year plan, the foundation will receive £15m annually to distribute to charities in the north-east and Cumbria - £10m less than in previous years. Read the full report here.