Car­ney held £100k party for bank’s em­ploy­ees

Western Daily Press (Saturday) - - Business - HOLLY WIL­LIAMS PA Deputy City Editor

BANK of Eng­land boss Mark Car­ney threw a sum­mer party for his staff cost­ing nearly £100,000 com­plete with a bake-off and fun run, as Bri­tain hun­kered down ahead of Brexit.

The Gov­er­nors’ Day event saw the Bank spend more than £58,000, ex­clud­ing VAT, on food and drink alone at the an­nual shindig held in July at its sports ground in Roe­hamp­ton, south-west Lon­don.

Mr Car­ney cel­e­brated with more than 2,500 em­ploy­ees and their fam­i­lies, with a staff bake-off com­pe­ti­tion for charity, as well as a fun run, trea­sure hunt, bouncy cas­tle and per­for­mance from the Bank’s choir and band. spend­ing de­ci­sions.

House prices are also be­ing held back by no-deal con­cerns.

The party de­tails are the lat­est rev­e­la­tion on spend­ing at the Bank after fig­ures showed Mr Car­ney racked up more than £50,000 in ex­penses be­tween March and May.

The fig­ures last month also showed that US-based Fi­nan­cial Pol­icy Com­mit­tee mem­ber Don­ald Kohn spent nearly £31,000 on travel in­clud­ing three re­turn flights from Wash­ing­ton to Lon­don in the quar­ter.

The Bank in­sisted its sum­mer party was “care­fully bud­geted” and was funded within its ex­pen­di­ture bud­get.

It said: “Gov­er­nors’ Day is a longheld tra­di­tion that is open to all em­ploy­ees in­clud­ing their fam­i­lies, with the aim of recog­nis­ing their hard work and ded­i­ca­tion.

“The an­nual event is an im­por­tant one for all Bank em­ploy­ees, and the Bank strongly believes that this care­fully bud­geted event is worth­while.”

A break­down of the party costs showed more than £27,000, ex­clud­ing VAT, was spent on entertainment, with an­other £10,400, ex­clud­ing VAT, on other ex­penses.

The Bank also re­vealed sep­a­rately that it spent just un­der £4,700 on its an­nual Gov­er­nors and Di­rec­tors Christ­mas Drinks re­cep­tion last De­cem­ber, in­clud­ing £682 on 70 bot­tles of wine.

The Bank is also known for its lav­ish leav­ing gifts, with for­mer gover­nor Sir Mervyn King presented with a £10,000 por­trait of him­self, a £2,505 bust and a sil­ver nap­kin ring cost­ing £597 when he left in 2013.

Gov­er­nors’ Day is a long-held tra­di­tion that is open to all em­ploy­ees

and their fam­i­lies

Daniel Leal-Oli­vas

Bank of Eng­land boss Mark Car­ney

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.