Troops to benefit from bank rate-fixing scandals
MEMBERS of the Armed Forces are to benefit from money made during a rate-fixing scandal.
The Government announced Tickets for Troops would be one of the charities to receive the cash from the much-publicised LIBOR Fund.
Tickets for Troops, which works closely in Plymouth and the surrounding area, is one of four forces charities to be awarded the cash.
The charity offers tickets to events such as theatre performances to servicemen and women.
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It is one the first grants made from £35million allocated to support Armed Forces charities from fines levied on banks following the LIBOR rate fixing scandal.
Several banks have been fined for attempting to fix the benchmark lending rate for financial institutions.
Tickets for Troops, which relies solely on individual donations, will use the money in order to improve the service it provides and increase the ticket donations it currently receives, bosses said.
Ross Barden, director of operations, said: "As a small charity which was only launched three years ago and relies on individual donations, this extra support will be a fantastic boost to the charity and allow it to continue providing the wide range of free tickets to major events to thousands of members of the Armed Forces in recognition of the enormous sacrifice they make on our behalf."
The other charities to benefit from the fund include SSAFA Forces Help, The Felix Fund and The Fisher House Project in Birmingham.
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