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NEWS
UK's Imperial War Museum to benefit from banker fines
POSTED 10 Dec 2014 . BY Tom Anstey
The Imperial War Museum was about to cut its primary school education service before the funding pledge
Money collected by the UK government from banks fined for wrongdoing is to be redistributed in-part to the education sector, with Cambridgeshire’s Imperial War Museum to benefit by around £8m (US$12.5m, €10m) following a plea from a local member of parliament.

Chancellor George Osborne offered the money to the museum following a plea from Cambridge South MP Andrew Lansley.

The museum identified £2m (US$3.1m, €2.5m) that it was able to make in cuts, but the museum needs to save a further £2m more by closing its primary school education service.

Several banking institutions had been fined millions of pounds after being found to have manipulated inter-bank interest rates (Libor).

As a result the Imperial War Museum will now receive £8m between 2015 and 2019 to help support the institution’s education service.

"Some 50,000 pupils visit Duxford on school trips every year," said Lansley in an open letter to the chancellor. In reply, Osborne said: "I think the continuation of a project such as this undoubtedly fits the bill. The focus on the Great War and other forthcoming commemorations make activities like this doubly important."

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Jobs    News   Products   Magazine
NEWS
UK's Imperial War Museum to benefit from banker fines
POSTED 10 Dec 2014 . BY Tom Anstey
The Imperial War Museum was about to cut its primary school education service before the funding pledge
Money collected by the UK government from banks fined for wrongdoing is to be redistributed in-part to the education sector, with Cambridgeshire’s Imperial War Museum to benefit by around £8m (US$12.5m, €10m) following a plea from a local member of parliament.

Chancellor George Osborne offered the money to the museum following a plea from Cambridge South MP Andrew Lansley.

The museum identified £2m (US$3.1m, €2.5m) that it was able to make in cuts, but the museum needs to save a further £2m more by closing its primary school education service.

Several banking institutions had been fined millions of pounds after being found to have manipulated inter-bank interest rates (Libor).

As a result the Imperial War Museum will now receive £8m between 2015 and 2019 to help support the institution’s education service.

"Some 50,000 pupils visit Duxford on school trips every year," said Lansley in an open letter to the chancellor. In reply, Osborne said: "I think the continuation of a project such as this undoubtedly fits the bill. The focus on the Great War and other forthcoming commemorations make activities like this doubly important."

RELATED STORIES
Prime Minister and Duke of Cambridge on hand for reopening of London's Imperial War Museum


London's Imperial War Museum (IWM) has marked the centenary of World War One with the reopening of its museum following the completion of the first phase of a larger £40m (US$68.3m, €50.5m) revamp of the entire facility.
UK's Imperial War Museum awarded for innovation at MuseumNext 2014


The Imperial War Museum, UK’s Computer Club scheme has scooped the inaugural award for innovation at MuseumNext 2014.
Imperial War Museum launches digital archive remembering the people of WW1


A digital archive, built to remember British and Commonwealth troops who served during the First World War, has been launched by the Imperial War Museum in London.
Imperial War Museum London forced to close until July 2014


London’s Imperial War Museum has closed to visitors until July 2014 after ongoing building work unexpectedly revealed major infrastructure issues.
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KX Chelsea invests £15 million to upgrade its wellness offering
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Researchers identify a drug which reduces muscle loss when using GLP-1 medications
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