Money from bankers fines to fund IWM Duxford 9 Jan 2015

Money from bankers fines to fund IWM Duxford

£8m paid in fines by bankers has been used by Chancellor George Osborne to invest in IWM Duxford.  The money will support the site’s education and outreach departments which were under threat as the museum faced major funding cuts.  The museum was given the money to cover education work until 2019 following an intervention by the local MP, Andrew Lansley.  Granting the money, George Osborne wrote: "I agree that the educational work in support of schools undertaken by the Imperial War Museum (IWM) is something that we would not want to lose, and in particular the Duxford primary school site and its impressive tally of students taught each day.  As you know I am determined that the fines levied under LIBOR are used to help those who are most deserving.  I am convinced that we should be redistributing them in support of those who demonstrate the best of values; I think that the continuation of a project such as this undoubtedly fits the bill."  Cambridge News, Museums Journal, BBC