Local MP Caroline Dinenage today welcomed a £3 million cash injection for Royal Navy projects taken from the fines levied on banks for manipulating the London Interbank Offered Rate (LIBOR) financial benchmark. The cash boost will include £1 million for the Royal Navy and Royal Marines Charity to support Royal Navy personnel and their families in Gosport through projects including refurbishing the Warrant Officers Mess in HMS Sultan.
Commenting on, Caroline said:
“This is absolutely fantastic news for Gosport. Since being elected in 2010 I’ve worked really hard to keep HMS Sultan and the 900 jobs it creates on the Gosport Peninsula. This investment shows that our efforts are paying off and that the Government is as committed as I am to keeping HMS Sultan in our area.
It’s absolutely right that this investment is paid for by those bankers who attempted the rig the system and helped create the financial crisis. Our brave servicemen sacrifice so much for our country: the worst of Britain is now paying to support the very best.”