Armed Forces to benefit from banking fines

Every cloud has a silver lining, or so the saying goes.  The Armed Forces are set to benefit from the Libor banking scandal that recently hit the headlines.

The banking fines, which are reported to be worth tens of millions of pounds could benefit military charities.

The Chancellor of the Exchequer was recently quoted as saying “Our servicemen and women make huge sacrifices on behalf of our country. That is why it is right that those who have paid fines in our financial sector because they demonstrated the very worst values are paying to support those in our armed forces who demonstrate the very best of British values.”

So far large sums of money have been used for a variety of worthwhile projects.  Some of those include:

  • £25,000 to help the Royal Navy & Royal Marines Children’s Fund produce a booklet for Service families of someone who has Post Traumatic Stress Disorder (PTSD);
  • £547,000 to allow SSAFA to train 200 veterans and members of Forces families as Mental Health First Aid Trainers;
  • £350,000 for SSAFA to develop more than 200 mentoring relationships offering one-to-one individual support through a volunteer mentor to the wounded.

If you would like to find out more information on military injury compensation please get in contact today on 0800 083 5500.