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Osborne will use Libor fines to support injured troops

George Osborne has told the BBC's Andrew Marr programme that recent fines paid by some of Britain's biggest banking firms will be used to provide treatment and support to injured soldiers.

I want to make sure that as a society we don't forget about these people long after the war is over so we are committing for the rest of these people's lives to support the military covenant, to support them, to go on spending £10 million a year on these sorts of causes.

We can do this in part because we are using the money we have taken off bankers involved in the Libor scandal. So the people who demonstrated the very worst of British values in the Libor scandal, in the City, are now supporting those who have demonstrated the very best of British values.

– The Chancellor George Osborne

Cyclists take to the streets for Help for Heroes

More than 1,300 cyclists took to the streets of central London today in aid of the armed forces charity Help for Heroes.

The Hero Ride saw hundreds of organised bike rides from around the country meeting in Blackheath, southeast London before travelling together to the finish line at Horse Guards Parade.

ITV News reporter Piers Hopkirk reports:

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Help for Heroes charity tweets Hero Ride facts

The armed forces charity Help for Heroes has revealed some facts about today's Hero Ride through London on its Twitter page:

Help for Heroes cycling event set to raise £1 million

Today's Hero Ride cycling event in central London is expected to raise around £1 million for the armed forces charity Help for Heroes.

The cyclists ride down The Mall in central London. Credit: Lewis Whyld/PA Wire

Singer James Blunt was among those who took part in the challenge, while road cyclist Mark Cavendish and his model fiancee Peta Todd gave their support to the participants as they completed their rides.

Singer James Blunt (centre) takes part in the Hero Ride, in aid of the armed forces charity Help for Heroes. Credit: Lewis Whyld/PA Wire

Blunt, who was an officer in the Life Guards and served in Kosovo before his music career, said: "For me the most inspiring thing was seeing at the very front of the peloton a group of our wounded soldiers.

Cyclists take part in the Hero Ride in central London. Credit: Lewis Whyld/PA Wire

"Rather than me with my two arms and two legs on my bicycle, some of them are missing one or two or three limbs, and still they've been the fastest and the fittest and the guys with the biggest smiles on their faces".

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