FOI reveals Bank of England spend on booze

A Freedom of Information request has revealed the amount of taxpayers’ money spent on booze by the Bank of England in 2015-2017, although its taste for spirits is severely lacking having bought just two bottles in three years.

Last year the Bank of England spent £22,862.78 on beer and wine

In 2015 the bank of England spent a total of £20,224.37 on alcohol, which included £18,845.60 on wine (average £10.66 per bottle), and £1,306.32 on beer and just £72.35 on sprits.

Just two bottles of spirits were bought by the Bank in 2015, the only two purchased in the past three years., with an average price of £36 a bottle.

This figure climbed to £22,862.78 in 2016, with £20,823 spent on 1,900 bottles of wine (average £10.95 a bottle) and £2,038.84 spent on beer.

Of that, £2,593.52 was spent of the bank’s annual Christmas bash alone, the majority on wine and canapés, with just £19.92 spent on orange juice and water. 

The Governors and Directors drinks take place each year in the Court Room with 178 guests attended the event last year.

This year, spending on both wine and beer has dropped significantly, however the cost of its annual end of year Christmas drinks is yet to be accounted for.

As of October 16, the bank had spent £11,412.09 on wine and £1,517.98 on beer, suggesting that overall spend would likely to the lowest in three years.

“Often we plan ahead looking at events in the forthcoming year and therefore the amounts shown are for what is purchased in that year not necessarily consumed,” the bank said in a statement.

“The functions held would include a range of formal and informal events such as the Governors and Directors end of year drinks as mentioned above, employee network receptions and charitable events amongst others.”

Speaking to The Sun, James Price, campaign manager at the TaxPayers’ Alliance,  voiced its opposition to the publicly funded body spending any money on alcohol at all, slamming it as a waste of taxpayers’ money.

“It is remarkable that the Bank of England think it is appropriate to splash the cash on booze for themselves,” he said. “Taxpayers across the country are struggling with the heaviest tax burden in decades, so seeing people at the Bank of England enjoying themselves like this will be very upsetting. The Bank should recommit to fiscal restraint, just as the government and local councils should and show more responsibility.”