Fines on banks provide £1 million boost for UK's last Second World War Landing Craft from D-Day

This article originally appeared on Culture24.

Museum of the Royal Navy expects £1 million from banking fines in project which saved D-Day veteran from sinking

The much-maligned fines imposed on banks for manipulating interest rates look to have benefited the National Museum of the Royal Navy, where organisers say they will use £1 million in government funding to help restore the last Second World War Landing Craft in the UK, the LCT 7074.

Chancellor of the Exchequer George Osborne announced the news during a visit to Portsmouth Naval Base, promising a total of £3 million towards causes supporting the families of the Royal Navy and projects showcasing naval history.

LCT 7074 is the sole remaining servant of more than 800 manufactured. A veteran of the D-Day landings, she was recently raised from her sunk, semi-derelict mooring off a Birkenhead dock in an operation followed closely by supporters.

“It has been announced on the government website that we are in receipt of this funding,” said Professor Dominic Tweddle, the Director General of the museum.

“While we haven’t had official notification yet, it is very good news.

“As far as we can tell, LCT 7074 is the last of these vital workhorses known to have participated in D-Day, ferrying tanks, equipment and personnel across to France.

“Operation Neptune was the naval dimension of Operation Overlord, the largest amphibious operation in history, in which more than 7,000 ships and craft of all sizes landed over 160,000 soldiers on the beaches of Normandy.”

A vital part of the operation on June 6 1944, the LCTs could carry up to ten tanks or heavy armoured vehicles into battle.
 
“This grant will enable us to continue the really important project to conserve the vessel and ultimately put her on display, potentially at our affiliate, the D-Day Museum in Portsmouth,” said Tweddle.

“She will be a magnet for visitors eager to discover more about this essential part of our naval history.”  

Six firms were fined £1.4 billion at the end of 2013 for fixing key interest rate benchmarks.

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Source: http://www.culture24.org.uk//history-and-heritage/military-history/world-war-two/art515724-fines-on-banks-provide-million-boost-for-uk-last-second-world-war-landing-craft-from-d-day