In the Autumn Statement, announced last week, chancellor George Osborne announced that funds from banking fines would be allocated to a number of museums.
The Royal Marines Museum in Portsmouth, part of the National Museum of the Royal Navy, will receive £2m towards the relocation of the museum to within Portsmouth Naval Base.
The D-Day Museum, also in Portsmouth, will receive £600,000 for a refurbishment of the museum, and £1m has been awarded to the National Army Museum in London towards a redisplay of its collections as part of its ongoing redevelopment.
And the exhibition Poppies: Wave and Weeping Window, organised by 14-18 NOW, will receive £2.55m to tour to 12 locations around the UK.
The announcement was welcomed by the director-general of the National Museum of the Royal Navy, Dominic Tweddle.
Tweddle estimates that moving the Royal Marines Museum to the dockyard will see visitor numbers increase from 30,000 to 200,000 a year. The move will cost £17m in total. The museum has put a bid in to the Heritage Lottery Fund for £13m. If successful, this would leave a further £2m to be raised next year, once the Libor award is taken into account.
The National Museum of the Royal Navy received £500,000 earlier this year from Libor fines towards the restoration of LCT 7074, the last second world war tank landing craft in the UK, and a campaign veteran of the D-Day landings.
The Financial Conduct Authority has imposed fines in excess of £450m on banking institutions involved in the Libor rate-fixing scandal since 2012.
A news analysis in the January edition of Museums Journal will look at Libor awards to museums.
The Royal Marines Museum in Portsmouth, part of the National Museum of the Royal Navy, will receive £2m towards the relocation of the museum to within Portsmouth Naval Base.
The D-Day Museum, also in Portsmouth, will receive £600,000 for a refurbishment of the museum, and £1m has been awarded to the National Army Museum in London towards a redisplay of its collections as part of its ongoing redevelopment.
And the exhibition Poppies: Wave and Weeping Window, organised by 14-18 NOW, will receive £2.55m to tour to 12 locations around the UK.
The announcement was welcomed by the director-general of the National Museum of the Royal Navy, Dominic Tweddle.
Tweddle estimates that moving the Royal Marines Museum to the dockyard will see visitor numbers increase from 30,000 to 200,000 a year. The move will cost £17m in total. The museum has put a bid in to the Heritage Lottery Fund for £13m. If successful, this would leave a further £2m to be raised next year, once the Libor award is taken into account.
The National Museum of the Royal Navy received £500,000 earlier this year from Libor fines towards the restoration of LCT 7074, the last second world war tank landing craft in the UK, and a campaign veteran of the D-Day landings.
The Financial Conduct Authority has imposed fines in excess of £450m on banking institutions involved in the Libor rate-fixing scandal since 2012.
A news analysis in the January edition of Museums Journal will look at Libor awards to museums.
