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Libor fines help military charities

More than £12 million in fines levied on City rate-riggers will be shared by 24 military charities and good causes.

The latest allocation of funds from the Libor fines pot will be used to fund projects including housing and mental health support schemes for veterans.

Today's announcement means that the £35 million fund has been used to support 96 armed forces charities and good causes.

Chancellor George Osborne said: "I am delighted to be able to announce more money for those who are supporting our brave armed forces, veterans and their families. It is right that money paid in fines by people who demonstrated the worst of the values in our society is now being used to help and support those who demonstrate the very best."

In his Autumn Statement earlier this month Mr Osborne announced a further £100 million of Libor fines would be made available "to reflect our society's debt of gratitude to our servicemen and women, and their families".

In the biggest award from the latest funding round, Veterans F1rst Point will receive £2,560,586 to establish a number of mental health support centres in Scotland.

Houses for Heroes Scotland will use £1,940,000 to build low-rent houses for wounded personnel and their families.

In Wales, Change Step will receive £995,918 to develop and fund a support network for veterans for the next two years and Alabare Christian Care and Support will use £976,269 to provide re-settlement and employment for homeless veterans.

Other recipients of large allocations include AF&V Launchpad, wihch will receive £907,632 to provide accommodation to veterans in Liverpool and help them secure employment.

Defence Medical Welfare Service will use £896,296 to provide forces personnel across the UK with additional hospital welfare and psychosocial support, t he Royal Navy Service Family Accommodation will use £800,000 to fund upgrades to 15 play parks across Royal Navy estates and Combat Stress will use £575,268 to provide a 24-hour helpline for veterans.


From Belfast Telegraph