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Mark Carney: I do not have political ambitions

Report by Genelle Aldred, Video by Ashley Fudge

The Bank of England governor-in-waiting Mark Carney has told MPs that he is not looking at the position as a stepping stone in his career.

"I'm surprised that it would be viewed as politically astute, that taking one of the most challenging jobs in central banking in another country would be viewed as politically advantageous in my home country," he said.

"If I had political ambitions, I would have pursued them in Canada. This is revealed preference, I don't have political ambitions."

He also insisted his more than £800,000-a-year pay and perks package was "equivalent" to that of outgoing boss Sir Mervyn King.

In his first hearing with MPs on Thursday ahead of taking up the job in July, Mr Carney defended his controversial pay deal - which includes a £250,000 housing allowance - as being in line with that of Sir Mervyn on a "pay and pension" basis.

But MPs on the Treasury Select Committee questioned whether he was concerned about "resentment" among Bank of England staff, given that their pay has been frozen for two years.

"I'm moving from one of the least expensive capital cities in the world, Ottawa, to one of the most expensive capital cities in the world," he added.

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