Fat Cat Pensions
The newspapers report today that the Governor of the Bank of England - Mervyn King - has had an extra £1.4 million added to his pension pot.
Now this is the same man who is telling the rest of the country to tighten its belts - but clearly he has no intention of leading by example.
Apparently when Mervyn King leaves his position in 2013 - he will be eligible to draw an annual pension equivalent to £198,200 today - more than the Prime Minister's annual salary.
What his tax free lump sum will be - is nobody's business - but you can bet your house on the fact that it will be an awful lot of money.
So why the Governor needs a £1.4 million top up - is as clear as mud.
The Court of the Bank which decides such matters - offered no explanation for its very generous behaviour to an already highly paid official.
Sound familiar?
In a speech last week, Mervyn King said disposable incomes will fall to 2005 levels - as wages fail to keep pace with inflation and tax rises and benefit cuts bite.
Let's see if we can find out - who's on the Court of the Bank - that might make interesting reading.
Now this is the same man who is telling the rest of the country to tighten its belts - but clearly he has no intention of leading by example.
Apparently when Mervyn King leaves his position in 2013 - he will be eligible to draw an annual pension equivalent to £198,200 today - more than the Prime Minister's annual salary.
What his tax free lump sum will be - is nobody's business - but you can bet your house on the fact that it will be an awful lot of money.
So why the Governor needs a £1.4 million top up - is as clear as mud.
The Court of the Bank which decides such matters - offered no explanation for its very generous behaviour to an already highly paid official.
Sound familiar?
In a speech last week, Mervyn King said disposable incomes will fall to 2005 levels - as wages fail to keep pace with inflation and tax rises and benefit cuts bite.
Let's see if we can find out - who's on the Court of the Bank - that might make interesting reading.
