Mark Carney defends ‘stun’ Bank of England bill costs

Bank of England Governor has defended his advisers “staggering” expense claims, as he showed that his own account exceeded for the last two years £300,000.

Mark Carney said the test operating expenses of Threadneedle Street was cleared after deputies criticized the travel costs are collected from two officials of almost £400,000, a huge subsidy for the Bank’s employees at its South London sports club Christmas party costing £100,000.

Carney noted that the Bank was “the steward of these public funds” and this meant that MPs from the Treasury select Committee were right to question the figures in the accounts of the financial policy Committee, which he heads.

But he said: “it is important to have the context in which the Bank operates is a leading international financial centre in the world and most complex in the world.”

He said that the Bank was in a “table top” key global meetings and added: “we can’t have everything they will meet in London.

“We are in a position where the Bank of England members lead these meetings – we conduct these discussions.”

Simon Clark, the conservative MP, who sits on the parliamentary Commission, said the figures were “stunning” and disturbing echoes of the scandal of MPs expenses.

Two members of the financial policy Committee in the U.S. Donald Kohn and Anil Kashyap – ran up the passage between them of £390,000 for two years, mainly on transatlantic travel in business class and taxi.

Clark said the £11,084.Kashyap 89 flights from Chicago to London will leave their constituents “stunned”.

Con spent £8,000 on flights from Washington to London and £469 for a taxi in the expenses for one meeting.

The Bank staff said that the claims Kashyap was incorrectly recorded as a single way back when and there are two taxi Kona, associated with several days of meetings.

Carney, who said he spent the weekend at a meeting in Basel, Switzerland, confirmed his travel expenses amounted to £312,000 in the last two years, but said it was on 52 trips and was reduced to £136,000 by the reimbursement by international organizations, which he chairs.

“This is a consequence of having to go to different meetings,” he said, adding that many subsidized organizations, holding meetings and where he also is the official.