Banks: Fines

HM Treasury written question – answered on 23rd June 2015.

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Photo of Roger Godsiff Roger Godsiff Labour, Birmingham, Hall Green

To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 11 June 2015 to Question 1439, who is responsible for deciding to which charity or cause money received from bank fines is allocated.

Photo of Greg Hands Greg Hands The Chief Secretary to the Treasury

Awards may be requested by a third party, such as a local campaigner or MP, on behalf of organisations.

The administration of fines varies according to the type of organisation receiving the money. In particular, where a Government Department such as the MoD has been identified as the organisation best suited to deliver the outcome, for example support for childcare at military establishments, normal Departmental processes have applied. In other circumstances such as those in support of the Armed Forces Covenant, the Covenant Reference Group, a cross-Whitehall representative body which includes charity representation, provides the guidance on those areas where funds could be used to best effect. All foreign exchange penalties received to date have been allocated to create a fund for advanced care in GP practices and community healthcare facilities.

The distribution of this funding is accounted for through the relevant department’s annual report and accounts. These are audited by the National Audit Office. The Accounting Officer of the relevant department is responsible for ensuring that the funds are spent correctly.

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