He said: “In each Budget we have used the Libor fines paid by those who demonstrated the very worst values to support those who represent the very best of British values.”
Many of the charities to benefit are military-focused. For example, £10m will be given to the charities of every regiment that served in the Afghanistan war, while £25m will go towards helping the eldest veterans. This will include nuclear test veterans.
Another £1m will go to helping preserve the RAF Biggin Hill Chapel Memorial cathedrals. There will also be money for renovations of the RAF museum in Hendon, as part of the 75th anniversary of the Battle of Britain. The anniversary of the Battle of Agincourt will also be marked with an £1m donation.
As well as military charities, £10m of the money was pledged for new helicopters for the Essex & Herts, East Anglian, Welsh and Scottish air ambulance services.