The LIBOR Scandal & The Veterans Hearing Fund
Some Veterans in the UK have conflicted feelings about using the Veterans Hearing fund. Many feel they are making a claim against the British Legion. In fact, that couldn’t be further from the truth! The Veterans Hearing fund is funded by HM Government using money from fines raised during the LIBOR Scandal.
The Libor Scandal
The LIBOR Scandal arose when a group of financial institutions was accused of fixing the London Interbank Offered Rate (LIBOR). LIBOR is an important interest rate in global finance and it was fixed in order to make banks look more stable than they were. Millions in fines were imposed upon the financial institutions and HM Treasury has decided that some of the money raised through these fines would be used to support Veteran’s medical requirements. The Royal British Legion’s Veterans Medical Funds (which includes the Veterans Hearing Fund) programme is funded through a five year £13 million commitment from the HM Treasury, using income from the LIBOR fines.
We work with the Royal British Legion to ensure that Veterans get easy access to the Veterans Hearing Fund for Hearing Aids, Assistive Equipment and Tinnitus Therapy that they need and deserve.
My husband is ex-services, former Army, Royal Artillery. Needless to say, he suffers from a hearing loss or as they say in the RA family, Gunner Ear! His experience and the ongoing service of our Armed Forces have made us proud of who you are.
After seeing the struggle he had with his hearing and his need for high technology to help. We wanted to do something tangible that could help others with similar problems. We also felt that while doing so we should recognise your service.
We decided that helping ex-servicemen and women to access the Veterans Hearing Fund in order that they could get access to the very best equipment and care would go some way to doing just that. We want to make sure that you have access to the very best equipment available.