The Bank of England is under scrutiny after Freedom of Information request uncovers expenditure budget figures.
It has been revealed that the Bank of England spent almost £100,000 to throw a summer party for its 2,500 employees and their families. The Bank’s annual Governors’ Day event, which was held at its sports ground in Roehampton, south-west London, included a bake-off, a fun run and a treasure hunt, among other things. The Governors’ Day event saw the Bank spend more than £58,000, excluding VAT, on food and drink, more than £27,000 on entertainment, while £10,400 was spent on other expenses.
The party cost £95,674 in total, excluding VAT, a freedom of information request by the Press Association has revealed. The details come just a month after figures showed Mark Carney, Governor of the Bank of England, claimed more than £50,000 in travel expenses between March and May.
Amid rising criticism over high expenses claims from senior officials at the Bank, Mr Carney spent about £16,800 a month between March and May – totalling £50,664 – on foreign business travel, car hire and taxis.
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Mr Carney, who earned up to £900,000 last year, and two of his closest advisers, Donald Kohn and Anil Kashyap, were forced to justify their ‘staggering’ claims to a select committee in June. The Bank insisted its summer party was ‘carefully budgeted’ and was funded within its expenditure budget. But it comes at a time when the UK is reining is spending amid Brexit concerns. The Bank has warned business investment is predicted to come to a halt this year as Brexit worries make their impact on company spending decisions.
Aphrodite is a creative writer and editor specialising in publishing and communications. She is passionate about undertaking projects in diverse sectors. She has written and edited copy for media as varied as social enterprise, art, fashion and education. She is at her most happy owning a project from its very conception, focusing on the client and project research in the first instance, and working closely with CEOs and Directors throughout the consultation process. Much of her work has focused on rebranding; messaging and tone of voice is one of her expertise, as is a distinctively unique writing style in my most of her creative projects. Her work is always driven by the versatility of language to galvanise image and to change perception, as it is by inspiring and being inspired by the wondrous diversity of people with whom paths she crosses cross!
Aphrodite has had a variety of high profile industry clients as a freelancer, and previously worked for a number of years as an Editor and Journalist for Prospects.ac.uk.
Aphrodite is also a professional painter.
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