LIBOR

(asked on 14th July 2015) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what the reason is for the apparent disparity between paragraph 2.113 of Budget 2015, which states that the government has committed £75 million of LIBOR fines over the next five years to support military charities and other good causes and paragraph 2.47 of Summer Budget 2015, which states that the government has committed nearly £70 million of banking fines over the next five years to support military charities and other good causes.


Answered by
Greg Hands Portrait
Greg Hands
Minister of State (Department for Business and Trade)
This question was answered on 22nd July 2015

The reason for the apparent discrepancy is that the documents refer to two separate figures in two separate budgets. Paragraph 2.113 of Budget 2015 allocated £75 million. Paragraph 2.47 of Summer Budget 2015 allocated a further £70 million of banking fines to military charities and good causes.

This takes it to a total of £145m committed in this calendar year.

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