The Bank of England plans to clamp down on "staggeringly high" expenses after two officials spent almost £400,000 on travel. Two American members of the bank's financial policy committee, Donald Kohn and Anil Kashyap, came in for criticism from MPs after they racked up the expenses of £390,000 mainly on business flights and fares over more than two years. Staff have been told they should use public transport instead of taxis, travel by rail instead of air, fly economy and make more use of video conferences. The bank's new guidelines, published on Friday, suggest business class flights should only be used on flights of ... (full story)