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Bank of England Threw Nearly £100,000 Party after Brexit

The Bank of England spent nearly 100,000 on a Governors’ Day Jolly on July 10, but two weeks in the wake of the historic Brexit vote. The lavish party took place at the sports grounds in Roehampton, south west London.

The £99,035 party, paid for by taxpayers ,comes at a time when savers have little to expect from their accounts and Carney is accused of exaggerating the danger of Brexit to increase Remain votes during the referendum campaign. The Party went down mere weeks after the stressful Brexit vote.The British exit from the European Union commanded global headlines and had a big affect on global markets. It seems governor Mark Carney, along with 2,500 Bank staff, policy makers and guests had a party.

According to BoE, it spend over £94,500 (and that doesn’t include the nation’s VAT) on food, entertainment and the venue. There were almost £4,500 spent on “other” costs.

The TaxPayers’ Alliance called the party a “huge slap in the face to all those who have struggled under the Bank of England’s policies”.

Chief executive John O’Connell said: “Not only have savers had very little to celebrate over the last eight years because of rock bottom interest rates, but many will rightly be angry that staff are then spending huge sums of money on lavish parties for themselves…It would be right to consider these sensitivities when planning any future function.”

The Bank called Governors’ Day a “long-held tradition that is open to all employees – including members of the Monetary Policy Committee – 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.”

The bank noted nearly £2,500 was raised for The Lily Foundation and The Myotubular Trust. The bank matched that.

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