Thursday, 3 August 2017

Politics: The richest MPs in Britain based on income

The Houses of Parliament

The register of interests shows that ten of the 11 highest earning MPs are Conservatives, with only two being women.

LONDON — The latest register of members of parliament's financial interests reveals that 10 of the 11 highest earning backbench MPs are Conservatives, and only two are women.

All MPs earn a basic salary of £74,000 a year, with extra pay for those with other responsibilities such as ministers and the chairs of parliamentary committees.

However, many backbench MPs also earn additional money through directorships on private companies, appearance fees, and other non-parliamentary work.

The rankings below have been calculated by adding yearly salaries to any additional payments declared on the register over the past 12 months.

13. Sir Edward Davey (Lib Dem): £107,285, mostly as a consultant to the energy industry

Constituency: Kingston and Surbiton

Income sources:

• Chairmanship of Mongoose Energy, a renewable energy firm.

Consultant to Herbert Smith Freehills.

Non-executive director at Nord Engine Capital Ltd.

Worked for MHP Communications.

Member of the Advisory Board of Next Energy Capital, an investment and asset manager.

Davey says all his "earnings [are] paid to Energy Destinations Ltd [a consultancy he owns], and will be used to benefit my disabled son."

12. Sir Henry Bellingham (Conservative): £108,000, mostly as a non-executive chairman of a mining company

Constituency: North Norfolk

Income sources:

• Non-executive director of Developing Markets Associates Ltd, a global consultancy and investment conference organiser.

Non-executive Chairman of Pathfinder Minerals PLC, an AIM listed mining company.

Senior adviser to J. Stern & Co. LLP, a fund management company.

11. Owen Paterson (Conservative): £116,395.06, mostly as a consultant

Constituency: North Shropshire

Income sources:

Consultant to Randox Laboratories Ltd, a clinical diagnostics company.

Consultant to Lynn’s Country Foods Ltd, a processor and distributor of sausages.

Speech given to the Northern Ireland Meat Exporters Association Ltd.

10. Fiona Bruce (Conservative): £147,046.84 from her work as a solicitor


Income sources:

Fiona Bruce and Co LLP; solicitors practice.

9. Cabinet members: £142,467

Constituency: Various

Income sources:

MP's salary of £74,962.

Cabinet minister's salary of £67,505.

Members of the cabinet, such as Michael Gove, Boris Johnson, Andrea Leadsom and Amber Rudd, receive additional salary, but are prohibited from taking on external directorships. More junior minister also receive a lower additional salary

8. Theresa May (Conservative): £150,402

Constituency: Maidenhead

Income sources:

MP's salary of £74,962

Prime Minister's salary of £75,440

7. Andrew Mitchell (Conservative): £158,110, earned through advisory roles

Party: Conservatives

Constituency: Sutton Colfield

Income sources:

Senior adviser to Investec

Senior adviser to Montrose Associates

Consultant with Ernst & Young

Senior adviser to UK Global Health Care Ltd

• Newspaper articles.

6. John Redwood (Conservative): £196,097.19, mainly from board roles

Constituency: Wokingham

Income sources:

Member of the Advisory Board of EPIC Private Equity.

Chairman of Investment Committee of Charles Stanley, an investment bank and stockbrokers.

Newspaper articles.

Public speaking appearances.

5. Nadine Dorries MP (Conservative): £224,000 from book deals

Constituency: Mid-Bedfordshire

Income sources:

Book deals with Head of Zeus publishing.

4. Sir Nicholas Soames (Conservative): £244,693.27, from advisory roles

Constituency: Mid Sussex

Income sources:

Senior adviser on strategic issues to Intrepid Capital Partners.

Non-executive senior adviser at GardaWorld, formerly AEGIS Defence Services Limited, a private security and military company.

Senior adviser at MMC Group, insurance and related financial services.

Non-executive director of Aggregated Micro Power plc, renewable energy investment business.

Public speaking appearances.

3. Kenneth Clarke (Conservative): £274,800, mostly from his autobiography deal

Constituency: Rushcliffe

Income sources:

Public speaking appearances.

Autobiography deal for "Kind of Blue: A Political Memoir".

2. Nadhim Zahawi (Conservative): £534,696, mainly from being Chief Strategy Officer for an oil company


Party: Conservatives

Constituency: Stratford-upon-Avon

Income sources:

Non-executive Director of SThree, an international specialist recruitment business

Chief Strategy Officer for Gulf Keystone Petroleum, an oil company that operates in the Kurdistan region of Iraq.

1. Geoffrey Cox (Conservative): £653,718 from his work as a barrister

Income: £653,718

Party: Conservatives

Constituency: Torridge and West Devon

Income sources:

Practices law at the bar in England and Wales, and provides legal services.

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