LIBOR: Fines

HM Treasury written question – answered on 9th November 2015.

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Photo of Tom Elliott Tom Elliott UUP, Fermanagh and South Tyrone

To ask Mr Chancellor of the Exchequer, how much of the funding raised from Libor fines has been distributed to charitable projects and good causes in each region and constituent part of the UK.

Photo of Tom Elliott Tom Elliott UUP, Fermanagh and South Tyrone

To ask Mr Chancellor of the Exchequer, what steps he is taking to ensure that every region and constituent part of the UK benefits from money raised from Libor fines.

Photo of Tom Elliott Tom Elliott UUP, Fermanagh and South Tyrone

To ask Mr Chancellor of the Exchequer, what funding to air ambulance services he has provided from Libor fines.

Photo of Tom Elliott Tom Elliott UUP, Fermanagh and South Tyrone

To ask Mr Chancellor of the Exchequer, what funding for air ambulance services he plans to provide from Libor fines.

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

In the last two financial years HM Treasury has received £1.3bn in LIBOR and FX banks fines. All LIBOR penalties received in this time period have been allocated to military or other uniformed charities. All foreign exchange penalties received in this time period have been allocated to create a fund for advanced care in GP practices and community healthcare facilities.

Each bid for charitable funding from Libor fines is considered on its individual merits and with a clear intention that awards should benefit the widest range of military charities and good causes across the whole of the United Kingdom.

Awards of Libor funds are usually made at the Autumn Statement or the Budget.

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