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The voice of Scotland’s vibrant voluntary sector

Published by Scottish Council for Voluntary Organisations

TFN is published by the Scottish Council for Voluntary Organisations, Mansfield Traquair Centre, 15 Mansfield Place, Edinburgh, EH3 6BB. The Scottish Council for Voluntary Organisations (SCVO) is a Scottish Charitable Incorporated Organisation. Registration number SC003558.

Bank fines fund charity air ambulance

This news post is about 9 years old

Proceeds of Libor fines go to air ambulance services

Scotland's Charity Air Ambulance (SCAA) has welcomed £250,000 of funding it is to receive from bank fines.

The service, based at Perth Airport, has rescued almost 500 people since it was launched in May 2013.

SCAA is just one of a several air ambulance services across the UK that have each been awarded a share of £5 million paid to the government in Libor fines levied on banks who tried to manipulate financial markets.

SCAA chairman John Bullough said the money would pay for new equipment.

He said the donation, to be used as capital funding, was "very welcome news".

Bullough added: "The donation will be used to enhance and improve equipment and facilities, thereby enabling our generous public giving to be targeted at frontline operations.

"It costs £1.5m each year to keep SCAA flying and this Libor donation will help sustain our critical service, and comes at a really important time as air ambulances gear up for what is traditionally their busiest time of year."

Announcing the £5m of funding to the Association of Air Ambulance, chancellor George Osborne said it would enable 20 "fantastic" teams across the UK to extend their flying hours and "play a vital role in helping to save hundreds of lives every year".

He added: "It is absolutely right that we use funds from those who demonstrated the worst values to reward those who demonstrate the best, like our hardworking air ambulance crews."