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Wasn’t it good of Mervyn King, the Governor of the Bank of England, not to accept a pay rise of £100,000? What a model/example of restraint to us all! Instead he would only take 2.5% pay increase each year for the next five years, out of his annual salary of £289,551. We must feel sorry for him. That means he will only get a bit more than £7,000 pay increase this year. How did anyone work out that he should get such a pay rise in the first place? The way the economy has been going over the last year, it can’t be.