Bank of England’s summer party cost £100,000

Bank of England employees celebrated summer at a party costing nearly £100,000, it has been revealed.

Governor Mark Carney threw the party in July at the bank’s sports ground in Roehampton, southwest London.

More than 2,500 employees and their families competed in a fun run, bake-off for charity and treasure hunt.

There was also a bouncy castle and performances from the bank’s choir and band.

The bank spent £58,000 excluding VAT on food and drink alone, with the event’s total cost coming to £95,674, excluding VAT, according to a freedom of information request by the Press Association.

More than £27,000, excluding VAT, was spent on entertainment, with another £10,400 on other expenses.

Bank of England Governor Mark Carney
Image:
Bank of England governor Mark Carney has been criticised for his expenses

The bank said the party was covered by its expenditure budget.

It said: “Governors’ Day is a long-held 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.”

Mr Carney has already been criticised for racking up more than £50,000 in expenses between March and May, while US-based financial policy committee member Donald Kohn spent nearly £31,000 on travel during the quarter.

The news comes as Britons prepare for a Brexit that some experts say could see us poorer than we would have been if we remained in the European Union.

The bank is owned by the UK government, having been nationalised in 1946.

Leave A Reply

Your email address will not be published.