More banking fines given to help military charities

Defence correspondent om Cotterill on the jet simulator

The News defence correspondent ‘lands’ jet on HMS Queen Elizabeth

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MORE than £12m in fines gathered from UK banks in rate-rigging fines will be given to military charities.

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.

It means £35m in total has now been given to armed forces charities and other good causes from the Libor cash.

The Royal Navy Service Family Accommodation will use £800,000 for upgrades to 15 play parks across naval estates and Combat Stress will use £575,268 to provide a helpline.