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Bank of England pays staff bonuses after its own calls for wage restraint
The Bank of England stood accused today of paying bonuses to its own staff at a time when it was calling for pay restraint from everyone else as part of its own faltering fight against inflation. A total of £25 million pounds was paid out last year in staff bonuses, with some employees getting up to £22,500 in addition to their base salaries. Just under 430 people received performance awards of over £10,000 each. Governor Andrew Bailey – who led the pay restraint calls, for fear of a wage-prices spiral making inflation more stubborn – is paid just under £500,000 a year. Average annual pay at the BOE is over ... (full story)