In the latest budget, the Chancellor of the Exchequer announced that the fines that have been demanded of the banks that were involved in the recent rate-fixing scandals, will go to the RAF Museum in Hendon, northwest London, to help with its renovation scheme.

An appeal for help with funding had come from the new Chief Executive of the RAF Museum, Maggie Appleton, at the end of February, in conversation with Hendon MP Matthew Offord. Ms Appleton had been outlining the museum’s plans to celebrate the centenary of the Royal Air Force in 2018, and she had asked Offord what assistance he could provide in securing the support of the Treasury for the project.

In his budget the Chancellor said: “The RAF Museum in Hendon is a great cause that Matthew Offord has campaigned strongly in support of. I’m delighted that they will get millions of pounds in LIBOR fines – a fitting way to mark the extraordinary contribution the RAF has made and continues to make in service to our country.”

Maggie Appleton responded: “The Museum’s Centenary Project is incredibly important as it commemorates 100 years of the Royal Air Force. The story we tell reflects the bravery, ingenuity and dedication of our people. It is a story that belongs to every one of us. We are therefore very grateful for the support and acknowledgement we received today. We are a happy museum!”

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