Bank of England staff worked overseas for 12,889 days in 2025 as Andrew Bailey faces criticism

More than 1,000 Bank of England employees took advantage of a scheme allowing them to work from overseas during 2025.

Staff collectively recorded 12,889 days working from foreign locations across the year under a policy that allows eligible employees to spend up to 40 days abroad annually while carrying out their duties.

Around 5,500 workers at the central bank are entitled to use the scheme, meaning roughly one in five employees chose to do so, with those who participated spending an average of more than 12 days working outside the UK.

The overseas working policy sits alongside existing arrangements allowing employees to work remotely from within the UK for up to three days a week.

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The Bank of England declined to disclose which countries staff were permitted to work from, citing cybersecurity concerns.

Robert Jenrick, Reform UK's treasury spokesman, said: "While inflation is set to spike and the economy is teetering on the brink of a recession, Bank of England officials are working from the beach.

"Millions of working people who are being hammered by rising prices and won't be able to get abroad will be shocked at this."

Conservative Party chairman Kevin Hollinrake said the Bank "should be focused on tackling inflation, not clocking up thousands of days working overseas".

Mr Hollinrake called on Bank of England governor Andrew Bailey to justify the policy and demonstrate that it is in the public interest.

Sir Jacob Rees-Mogg, the former Conservative MP, also criticised the arrangement, saying: "It is, after all, the Bank of England, not the Bank of Timbuktu."

The figures also revealed the scale of the Bank's spending on technology to support its workforce.

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A further £764,000 was spent on 1,440 mobile phones over the same period.

The Bank said the expenditure reflected its "continued investment in modern technology and secure systems" to enable staff to work effectively away from the office.

Sir Jacob also criticised the rate at which laptops were being replaced.

He said: "It seems rather extravagant to buy a new laptop for every member of staff every 20 months while the level of absence abroad is unbelievable."

Based on the figures, the replacement cycle means each employee has received almost two laptops over the past three years.

The Bank defended the overseas working policy, with a spokesman saying it is intended for staff who "temporarily work outside the UK".

The spokesman added that, as an organisation with a "significant international make-up", the Bank recognises employees may occasionally need to spend short periods abroad.

He said the scheme is subject to time limits, security-related restrictions and an expectation that staff carry out their responsibilities "professionally and effectively".

According to the Bank's 2024 code of conduct, the overseas working allowance applies to any "employee-instigated trip" and is adjusted on a pro-rata basis for part-time staff.

The code also states that executive directors are responsible for overseeing the appropriate use of the policy.

The figures come as inflation remains a key focus for the Bank.

Inflation fell to a 15-month low of 2.6 per cent in June, although the Bank warned last week that it could rise to 3.2 per cent before the end of the year.

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