Former Chancellor George Osborne set to bank a whopping £1.5m in his first year out of office
GEORGE Osborne will bank at least £1.5 million in his first year out of office, shocking new figures show.
The ex-Chancellor last night declared a whopping £650,000 salary from global hedge fund BlackRock.
He will be paid for just four days per month at a day rate of £13,542, and will also received equity in the £4.2 trillion New York based investment firm.
When he accepted the job in January Mr Osborne claimed he was doing it to help deliver “better outcomes for pensioners and savers.”
It comes on top of the £786,450 the Tory MP for Tatton has earned giving speeches to rich financiers.
He will also be paid £120,212 for a year’s work with US academic project the McCain Institute, and has declared all the sums in the Parliament’s Register of Interest.
Nicknamed “Five Jobs George” in Westminster, part-time MP Mr Osborne is also running his Northern Powerhouse Institute to protect his flagship policy of developing the north of England.
Just months after being brutally fired by Theresa May, Mr Osborne is already the Commons most well paid MP.
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The news of of his eye-watering salary will likely reignite the furious row over ex-Cabinet Ministers taking lucrative private sector jobs.
But last year Mr Osborne defended the hefty sums he has made since leaving office, claiming he was doing it to drum up investment in the UK.
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While his wallet bulged, Mr Osborne told the BBC he was doing it so he could talk “to businesses about how actually despite all the challenges we face this is great place to invest.”