A True British Hero

[non sociopath skin]

King turned down 30% pay rise at Bank
• Governor admits limited ability to combat inflation
• Leap of 10% in factory gate prices marks 22-year high

The Bank of England's governor, Mervyn King, rejected a pay rise of more than £100,000 when he was re-appointed to the job earlier this year.

His decision to turn down the pay rise emerged in the bank's annual report, published today, in which King warned there was little that the monetary policy committee (MPC) he chairs could do to tame inflation in the short term.

According to the report, a review of King's pay suggested he should be entitled to a salary of between £375,000 and £400,000 when he began his new five-year term last month. King, who has publicly criticised the bonus culture in the City and called for wage restraint to keep a lid on inflation, is said to have thought it would have been "inappropriate" to accept a large pay rise. Instead, he will remain on his current salary of £290,000.

Rest at: http://www.guardian.co.uk/business/2008/jul/14/bankofenglandgovernor.executivesalaries

I have to admit to having being moved to tears by the plight of this fine gentleman. How brave and thoughtful of him to serve his Queen and Country by muddling along on £290,000 a year.

Perhaps those of us who earn in excess of that might care to chip in for a little treat? A new bicycle, perhaps? New shoes for his grandchildren? An away weekend at Pontins?

It's the least we could do ....

:eyes:

The Skin

[emad]

1. A national treasure! Surely it's a heinous disgrace that this multi-talented

self-effacing, highly prescient, modest civil servant isn't yet on the board of the Carlyle Group? Or even Halliburton.

In the glory days of Empire he'd be High Commissioner for India by now.