As the recession continues, your support for the RNLI is more important than ever.

Six out of ten lifeboat launches are only possible thanks to legacy gifts. While we expect the number of gifts to increase over the coming years, the value of these legacies is now likely to fall, reflecting the fall in value of property, shares and investments, as well as lower interest rates on savings.

The RNLI’s own investments, like those of other charities, performed poorly in 2008, and the charity ended the year with free reserves at their lowest level for 13 years.

At the RNLI’s Annual General Meeting on 14 May, Chairman Admiral The Lord Boyce said: ‘If we are to weather this storm well, it’s certainly not the time for knee-jerk reactions but it is the time for every one of us to work harder than ever. The Institution is not in crisis, and we should not talk ourselves into one, but we all have a role to play in making it clear we are not a wealthy charity.’

Because of the economic downturn, some projects are to be delayed, including flood defence work at the RNLI Headquarters depot site. The Chairman continued: ‘The Business Planning team is considering a number of other contingencies, while ensuring we continue to deliver the priority projects that will help save more lives at sea.’

Training and equipping crew members and lifeguards remains the RNLI’s top spending priority and, with your support, the charity will carry on saving lives whatever the weather and regardless of the economic climate.