Daily Express

BARONESS MINOUCHE SHAFIK LONDON SCHOOL OF ECONOMICS

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LSE director Baroness Shafik earned a basic salary of £378,000 last year but took a 20 per cent pay cut in the pandemic. However her net salary was still £8,000 more than the previous year due to a planned pay rise, according to university accounts. She also had £79,000 in pension contributi­ons, up £13,000 on 2019, and has accommodat­ion worth £54,000 a year from the university, making her total package around £507,000. The LSE admits she earns 10 times the university’s average salary. With accommodat­ion this rises to 11.5 times.

The peer is a former permanent secretary at the Department for Internatio­nal Developmen­t and was deputy managing director of the Internatio­nal Monetary Fund.

When she served as Bank of England deputy governor from 2014 to 2017, Baroness Shafik was responsibl­e for its balance sheet of more than £500bn.

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