Bank of England's Brexit Party Cost

Dear Members, If you ever doubt that our fight to improve our working conditions is not worth the effort, please read this article. These out-of-touch fat cats are happy to make you feel bad about asking for your wages to be improved. They want you to think twice before demanding better working conditions. When they talk about “austerity,” they don’t include themselves—only the working men and women of England.

Be assured that the Workers of England Union will always fight these injustices… £100K ON A SUMMER PARTY – DISGUSTING AND IMMORAL

Regards,
Stephen Morris
General Secretary, Workers of England Union

Overview of the Summer Sports Day Extravaganza

The Bank of England spent almost £100,000 of public money on its annual summer party at a time when the country was reeling from the Brexit vote. A fortnight after the UK decided to leave the European Union, Governor Mark Carney and around 2,500 Bank staff and their families partied at the sports grounds in Roehampton, south-west London, spending a total of £99,035 of taxpayers’ money.

Key Expenditures and Political Fallout

The breakdown of costs, revealed via a Freedom of Information request, shows the Bank spent more than £94,500 (excluding VAT) on food, entertainment and venue hire, with nearly another £4,500 on “other” expenses. The TaxPayers’ Alliance condemned the spending as a “huge slap in the face” for savers who have endured rock-bottom interest rates for eight years.

“Not only have savers had very little to celebrate… but many will rightly be angry that staff are then spending huge sums on lavish parties for themselves,” said John O’Connell, chief executive of the TaxPayers’ Alliance. He warned that such sensitivities must be considered in any future planning.

Bank of England’s Justification

The Bank insists the Governors’ Day is a long-held tradition open to all employees (including Monetary Policy Committee members) and their families, aimed at recognising their hard work and dedication. “The annual event is important for all Bank employees and the Bank strongly believes that this carefully budgeted event is worthwhile,” it stated.

Related Workers of England Union Coverage

• Austerity Pain Falls on Labour
• Public Funds Squandered
• Fighting for Fair Pay
• More on the £100K Summer Party Controversy