King receives 2.5% pay rise

mervyn-king

Mervyn King, the governor of the Bank of England, and his deputies received a 2.5% pay rise in 2010, the Bank's Annual Report, published on Monday, shows.

The report said that under the new remuneration package agreed by the Bank's Remuneration Committee, King received a starting salary of between £375,000 ($593,459) to £400,000 in 2010, with automatic increases of 2.5% per annum, and a pension contribution of 30% of salary.

The Remuneration Committee said that while the salary of external MPC

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