Cornwall Air Ambulance To Benefit From Bank Fines

The Air Ambulance serving Scilly will benefit from large fines imposed by the financial regulator.

A number of banks were recently prosecuted for a cartel, which illegally fixed the rates at which they loaned money to each other.

The Chancellor, George Osborne, has announced that the Cornwall Air Ambulance will receive £250,000 from the £5million worth of libor fines.

The cash is being shared between 20 air ambulances across the UK.

The libor donations are restricted, meaning each charity must use the funding for specific projects and the money can’t be used to pay for general flying costs.

Cornwall Air Ambulance chief executive Paula Martin said while the funding is exciting news, the charity is still “wholly reliant on grassroots community fundraising.”

But she says there are “two exciting projects in the pipeline” which they’ll share with supporters soon.

Cornwall Air Ambulance is now in it’s 27th year and fundraising for the charity in Scilly is overseen by Sam and Jan Guy.