Europe News

Bank of England’s £100K bill to bring Carney to UK

Bank of England Governor Mark Carney
Dylan Martinez | WPA Pool | Getty Images
Key Points

The Bank of England stumped up £102,816 ($175,000) to relocate its new Governor from Canada to London, according to its annual report.

Mark Carney
BoE's Carney: Rates could rise sooner than expected

Mark Carney's total remuneration for his first part-year in office was £586,010 – close to double the £309,297 paid to predecessor Sir Mervyn King in his last full year in the job.

The former Goldman Sachs banker was famously given an £250,000 annual accommodation allowance as part of the package designed to lure him from his previous job as head of the Bank of Canada. He had to move his wife, Diana, and four children over from Ottawa as part of the new position.

Incoming Bank of England Governor Mark Carney
Millionaire Homes Mark Carney Can Afford

Asked about his relocation and housing package, Carney has previously told U.K. MPs: "I am moving from one of the least expensive capital cities in the world, Ottawa, to one of the most expensive."

The relocation expenses are understood to include several sets of flights for Carney, his wife and four children, as they visited Britain to house-hunt and view schools, as well as the cost of packing and moving furniture.

- By CNBC's Catherine Boyle