The Bank that likes to say yes Where the money goes

This is not the first time questions have been asked about the Bank’s stance on expenses.

Each year it holds a summer Governor’s Day party at a cost of £100,000.

It has also frequently spent £20,000 a year on wine alone.

When the former governor Sir Mervyn King left office in 2013 he was given a £10,000 portrait of himself, a £2,505 bust and a silver napkin ring costing £597.