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Saturday, March 11, 2017

Millionaire former Chancellor gains from budget

When it turns out that the millionaire former Chancellor George Osborne, who presided over the age of austerity during the Cameron years, could be around £120 a year better off following the Budget, then clearly there is something wrong with the UK Government's priorities.

George Osborne is the UK’s highest earning MP thanks to his lucrative outside interests, so £120 is nothing to him. It would however mean a great deal to single mother struggling to get by in a low paid job. Whatever happened to the Chancellor's pledge that those “with the broadest shoulders” should make the greatest contribution to bring down the deficit?

Osborne recently updated his entry in the registry of members’ interests revealing that he will earn £650,000 a year for working just four days a month for global investment firm Black Rock. According to the Independent, industry insiders predict he will make more than £1m annually from Black Rock through the performance of shares he will receive in the New York-based firm.

He has also signed with exclusive public speaking agency, the Washington Speakers’ Bureau, and has earned £786,450 in the space of just five months delivering after-dinner speeches, according to the registry. The paper says that he will earn a further £120,000 a year as a Kissinger Fellow for a US academic programme, working from home.

These seem like pretty broad shoulders to me. Perhaps the Chancellor should go back and redo his sums.
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