Government to waive VAT on Tower of London poppies
The Government has announced that they are to waive the VAT equivalent of the estimated £1.1 million from the sale of the poppies used within the First World War commemorative installation at The Tower of London. The Government will use some of the money collected from the LIBOR fines imposed on the banks to fund this donation.
The donation will be shared amongst six charities including Help for Heroes and The Royal British Legion that provide support to injured Armed Services personnel and their families.
The Chancellor of the Exchequer, George Osborne commented that:
‘Each one of these Poppies brought from their Derby factory to the Tower of London represents a British soldier who answered the call from their country a century ago and made the ultimate sacrifice.
Their sacrifice reminds us of the part played throughout recent times by our Armed Forces to preserve our security and freedom, and of the debt we owe them. It is therefore right that we use the fines from those who’ve demonstrated the worst of values to support those who demonstrate the best of values everyday.’