LIBOR fines to benefit military charities & Jo Cox-backed cause

Melanie May | 15 July 2016 | News

The government has announced that LIBOR fines are to be donated to charity, including a cause backed by the Jo Cox memorial fund.
Nine charities will receive a share of more than £14m, raised from fines levied on the banking industry for manipulating the LIBOR rate.
The funding includes:

The Aged Veterans Fund‘s (AVF) £5 million will go towards projects that support the health and social care needs for older veterans over the age of 66, including surviving World War 2 soldiers. The next round of grants from the AVF will be made in September 2016.
General Sir Andrew Ridgeway, chairman of Cobseo, the Confederation of Service Charities said:

“The additional funding announced by the Chancellor for the Aged Veterans Fund will make a significant difference to the outstanding work undertaken to support the additional health, wellbeing and social care needs of this group of people who have served this country with such distinction. This will permit an increased number of veterans to access these important services.”


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