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How rich is Mark Carney?

by Purvai Dua
1st Oct 18 1:56 pm

Canadian-born Bank of England Governor Mark Carney holds the most reputed spot in Britain’s banking sector.

Harvard-educated Carney also has a masters and doctoral degrees in Economics. He took over as Governor of the Bank of England in July 2013 for an initial period of five years. He will now serve until January 2020.

According to the public record, the “rock star banker” took home £879,000 in 2016. His total benefits that year measured at £252,000 and £5,000-a-week housing allowance, according to the Sun.

As part of his relocation plan, Carney is allowed £250,000 a year in housing allowance. Carney lives in a plush west London home, which he recently bought for his wife and four children for an estimated £3m. The house has impressive six bedrooms, a designer kitchen and a home gym as well.

Other reports also stated that Carney’s Canadian home gets him a weekly rent of £1,000.

His allowance was heavily criticised by Commons Treasury Committee chief Andrew Tyrie who had said: “Your current pay in sterling terms is around total remuneration of a third of a million pounds and your total remuneration is going to be in excess of £800,000.

“That’s a rather large rise bearing in mind that there is a pay freeze on at the bank.”

However, Carney defended his salary, saying he had moved from Ottawa, “one of the cheapest capitals, to one of the most expensive capitals (London)”.

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