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Service Charities benefit from LIBOR Fines

11th August 2014
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The Chief Executive is looking rather pleased following a reception hosted by the Prime Minister at which it was formally announced that the RNBT along with a number of other leading charities in the Service Charity Sector will all benefit financially from the infamous LIBOR banking scandal where the banks were fined – a lot of money – for fixing inter-bank lending rates. The Service Charity sector has benefitted from these significant fines as part of the government’s Armed Forces Covenant which seeks to recognise the debt the nation owes its Armed Forces for the sacrifices they make every day. The Prime Minister said at the reception “It is right that the money raised from people who demonstrated the worst of values in our society should now be used to help and support those who demonstrate the very best.” The RNBT was successful in its bid for £112,000 to fund the cost of replacement windows at Pembroke House, the RNBT’s care and nursing home in Gillingham, Kent; the windows to be replaced date from 1927 and it’s only fair to say they are showing their age!!