Autumn Statement: Hammond gives Leeds hospital a helping hand

Philip Hammond will earmark £1.85m to help the hospital buy state-of-the-art imaging equipment used in both operations and for diagnosis as he pays tribute to its work.

The money is coming from fines levied on financial institutions over the the LIBOR scandal which saw a key interest rate fraudulently manipulated.

It is understood the money promised today will not meet the whole cost of the equipment but will go a long way to ensuring the hospital can make the investment.

Mr Hammond said: “I am delighted that LIBOR fines raised from banks will support Leeds Children’s Hospital Charity, contributing towards cutting edge technology which will support the vital work its staff do every single day.

“This hospital treats desperately ill children, and provides much-needed support for their families, and I pay tribute to these efforts.”

The money will go towards the cost of a a children’s 3T intraoperative MRI suite, specialist equipment which allows doctors to access high quality images of patients during operations.

It will also improve the hospital’s ability to diagnose conditions in its patients.

Mr Hammond’s announcement of help for Leeds Children’s Hospital continues a policy started by his predecessor, George Osborne, who used Libor fines to support a series of good causes while he was at the Treasury.

Charities helping military veterans, air ambulances and organisations supporting emergency services personnel, the Royal Voluntary Service and children’s hospitals in other parts of the country have been among those to receive money.