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Mervyn King's Salary

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Just a quick question - something I've been wondering:

Given the BOE is a private bank, why is Mervyn King paid a salary from/by the taxpayer when surely it ought to be e.g. dividends from the private company he works for?

If my understanding above is right, is it mostly to maintain the pretense that he works for "the country"?

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Just a quick question - something I've been wondering:

Given the BOE is a private bank, why is Mervyn King paid a salary from/by the taxpayer when surely it ought to be e.g. dividends from the private company he works for?

If my understanding above is right, is it mostly to maintain the pretense that he works for "the country"?

Directors don't receive dividends. Shareholders receive dividends. In many cases, the director is a shareholder, and in the vast majority of companies, most of which are small, the directors are the only shareholders. However, the Bank of England's sole shareholder is the UK Government since 1946 when it was nationalised, so any dividends would go to the government

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The government is not the sole 100% shareholder of the BOE. Indeed, nobody can find out who the shareholders are. So it isn't really "nationalised" as such.

http://www.ukipmeps.org/news_257_Batten-Will-BoE-shareholders-names-be-disclosed.html

http://answers.yahoo.com/question/index?qid=20090305064859AAsMoRu

Hence, my original question still stands.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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