Substantial Libor Boost For Home For Veterans

Alabaré, the charity behind the Bristol Homes for Veterans programme was delighted with the news from Chancellor George Osborne’s yesterday, to be awarded £903,000 from the Government’s distribution of banking fines. This new funding, announced in the Chancellor’s Autumn Statement, will be used by Alabaré to develop their existing support and provide new accommodation for homeless veterans in the Bristol area.

Andrew Lord, Chief Executive at Alabaré, said,

“We are thrilled with this award which is a fantastic boost to our plans to increase our support for our Armed Forces Veterans in the Bristol area who are struggling in their lives outside the military. In the five years since our first Bristol Home for Veterans opened our teams have supported 98 people who would otherwise have been living in crisis, possibly on the streets. Instead we have been able to support them to address health issues, manage debts and move forward to a positive future of employment and their own home again.

This award puts us well on our way to either improving our existing homes or purchasing new ones. It also means that we can continue to develop our support to our Veterans to help them become independent, employed and play a full part in the community. 

We are grateful for this grant, and in particular to Jack Lopresti MP for his support and championing of our Homes for Veterans.”  

MP for Filton and Bradley Stoke Jack Lopresti has been working closely with Alabaré to secure these new funds for Bristol.  He says:

“Alabaré is a fantastic charity which supports vulnerable veterans by providing supported accommodation for ex-service personal to whom we all in this Country owe such a debt of gratitude. I have visited the Alabaré Veterans homes in my constituency a number of times and seen what a fantastic impact they have. I am therefore extremely pleased that I have been able to convince the Chancellor to award this funding.

I am delighted that the Chancellor has decided to help Alabaré Veterans Charity create bespoke accommodation for vulnerable veterans of working age by giving them over £900,000 of LIBOR funds.”

Alabaré currently runs 3 Homes for Veterans in Bristol, and is the largest provider of dedicated accommodation for homeless Veterans of working age outside of London.  The charity also runs Homes for Veterans in Salisbury, Gloucestershire, Plymouth, Weymouth,

Gosport, Fareham and across Wales. These homes provide support for homeless or vulnerable ex-Armed Forces personnel, giving them a roof over their heads and helping them move into employment and get their lives back on track. Since the scheme started in 2009, Alabaré has helped over 300 Veterans.

Wednesday’s award was made from the Government’s distribution of fines levied on banks following discrepancies including the rigging of the LIBOR rate.

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