By Jonathan Davies

The Chancellor George Osborne is expected to announce plans in the Summer Budget to allocate £800 million worth of bank fines towards 'worthy causes'.

City regulator, the Financial Conduct Authority (FCA), handed out £819 million worth of fines in the first six months of the year, up £136m from last year.

The FCA passes fines onto the Treasury and the Chancellor has used past Budgets to allocate the funds to popular charities and causes.

Over the weekend, Prime Minister David Cameron announced that a national memorial for the British victims of the Tunisia terrorist attack would be funded by fines imposed on banks for rigging the Libor interest rate. And in April, the PM said Deutsche Bank's £227m Libor fine would go towards creating 50,000 apprenticeships.

Any funds not allocated by Mr Osborne to good causes will be used by the government for general spending.

The Chancellor delivers his Summer Budget on Wednesday. You'll be able to follow all the news on Fresh Business Thinking.