The Bank of England’s policy on expenses has come under scrutiny

The Bank of England has been accused of spending a “staggering” amount of money after two economic advisers claimed nearly £400,000 in travel expenses in only two and a half years.

Donald Kohn and Anil Kashyap, members of the Bank’s financial policy committee, have spent £390,000 on business class flights between London and America, as well as taxi fares.

At a Treasury committee hearing, Simon Clarke, a Conservative, said the figures had “disturbing echoes” of the MPs’ expenses scandal in 2009.

Mr Clarke highlighted two flights by Mr Kashyap, who lives in Chicago, which cost £11,084.89, and which Mr Clarke said would leave his constituents “gobsmacked”.

“These meetings are scheduled, I would envisage, months in advance. I cannot understand how that figure has been arrived