Bank Fines Boost Veterans' Projects

17 July 2014, 06:15

Specialist accommodation for military veterans who have lost their sight or their limbs is one of eight projects to be part-funded by fines on banks, David Cameron said.

The Prime Minister announced the beneficiaries of the latest £20 million tranche of punishments for manipulating the Libor rate to be diverted to good causes ahead of a reception at Downing Street for serving personnel, reservists, veterans, businesses and charities involved in the Military Covenant.

He will also formally open new permanent First World War galleries at the Imperial War Museum as part of the commemorations of the centenary of the conflict.

"Our armed forces make huge sacrifices for the nation and it is right that all of us recognise that sacrifice - that is why this Government enshrined the Armed Forces Covenant in law,'' Mr Cameron said.

"One of the greatest worries for our troops when they are wounded or injured is how they and their families will continue with daily life.

"We should do all we can to take away those worries by providing them with the specialist help and support they need to continue to live their lives and these projects will help to deliver that.''

Around £40 million in fines - out of £140 million promised for military good causes so far -  has been earmarked for housing ex-military personnel.

Emergency service charities, search and rescue and lifeboat services, scouts, guides, cadets and St John's Ambulance are also being given a share of the fines.

Every local authority in Britain and 200 firms were now signed up to covenants committing them to support the armed forces, Mr Cameron said, and the first awards were being made to employers for their work, especially with employees who were reservists.

The projects receiving funds are:

:: £8.6 million to accommodate 418 more veterans and families in south London and Edinburgh;

:: £6 million for 65 units of temporary, supported and independent accommodation in Colchester;

:: £1.25 million for five purpose-built apartments in Llandudno for vulnerable veterans with sight and/or limb loss;

:: £400,000 to adapt the kitchens and gardens in the homes of 20 wheelchair-dependent, lifetime disabled veterans and their families;

:: £240,000 to adapt 30 bathrooms for disabled and older veterans in west London;

:: £2.5 million for a new dementia unit for up to 30 veterans in Broadstairs, Kent;

:: £112,000 to replace windows at accommodation in Kent;

:: £550,000 to improve conditions - including lighting suitable for people with dementia  - in Scotland.

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