Tuesday 17 May 2022 10:37 PM So THAT'S why the Bank of England is helpless! Staff only have to go to office ... trends now
View
comments
The Bank of England faced a backlash last night over its decision to allow staff to work four days a week from home.
Officials have to come in for only one day in five, with their long-term target set at just half of the working week.
The revelation caused outrage last night because governor Andrew Bailey has warned he feels ‘helpless’ in the face of surging inflation and 'apocalyptic’ food price rises.
Former Cabinet minister Liam Fox said the Bank should be doing all it could to boost the economy. ‘It seems strange that in an inflationary crisis, so few key personnel are attending their place of work,’ he added.
And Brandon Lewis, the Northern Ireland Secretary, criticised Mr Bailey for his ‘surprising’ comments.
Governor of Bank of England Andrew Bailey (pictured adjusting his glasses) has warned he feels ‘helpless’ in the face of surging inflation and 'apoclalyptic’ food price rises
The Bank of England (pictured) faced a backlash last night over its decision to allow staff to work four days a week from home
Marks & Spencer chairman Archie Norman said that while food price rises would hit household incomes it was ‘perhaps not apocalyptic’.
A government source described the governor’s language as ‘ridiculous and frankly irresponsible’.
Mervyn King, who led the Bank from 2003 to 2013, urged Mr Bailey, who has sung the praises of remote working, to consider a hike in interest rates.
‘The big