PITY poor Maurice O'Connell, the governor of the Central Bank. Bank of England Governor Eddie George has received a £3,008 rise - taking his total pay package to £232,423, according to the Bank's annual report. By comparison the governor of the Central Bank of Ireland receives only around £85,000 to £90,000.

It may be one of the highest in the much discussed Gleeson scale, but at the monthly meeting of EU governors in Basle its near the bottom of the league.

When he was appointed Governor in 1993, inflation hating Eddie decided he would lead from the front, so to speak, and not take an increase in his basic salary of £225,000 for the whole of his five year term. No doubt this show of solidarity was a great encouragement to the average factory worker.

Last year's rise from £229,415 for the previous 12 months was accounted for purely by an increase in his benefits to account for extra travelling. But, at 1.3%, the increase was well within the current inflation rate of 2.4%. Clearly no chance of salary overheating in the old Lady of Threadneedle Street.