George Osborne: Libor fine will go to injured soldiers

Posted On: 
1st August 2014

George Osborne said the fine paid by Lloyds Bank for manipulating the Libor rate would go to support injured soldiers and their families.

"Lloyds Bank have been fined £100m for manipulating the market; that is a terrible thing for them to have done but I’m making sure that the money is put to good use. It is going to go and help support soldiers returning with injuries to make sure they get long term care. It’s going to help families while their loved ones are away in the military. In other words, people who have demonstrated the worst of values in the City are going to be helping and supporting those who demonstrate the very best of British values in our armed forces."