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Revealed: The finance and property firms bolstering MPs’ salaries


Many politicians are bolstering their salaries with thousands of pounds from financial and property firms, according to the latest parliamentary register of financial interests.

The current biggest earner is former chancellor George Osborne, who has disclosed he will earn £650,000 a year for working four days a month as an adviser to BlackRock.

Osborne will advise on European politics and policy, Chinese economics and market trends.

The register also shows that Osborne earned £786,450 last year from giving 15 speeches, mostly to financial firms, including HSBC and Aberdeen Asset Management.

Property developers Countrywide Developments also gave Osborne and one of his employees an £8,000 helicopter ride and car journey to a Conservative function last summer.

He is also expecting payment of £15,081 from Lloyds Bank International for a speech he gave last month, though he will give this to charity.

Chancellor Philip Hammond has a controlling stake in property developer Castlemead, though the firm made a loss of £665,000 in the year to last March, according to Companies House.

Meanwhile former Conservative leader and current MP Iain Duncan Smith earned £6,280 from 2Plan Wealth Management for a speech he gave in December.

South Suffolk MP James Cartlidge has declared that he is the founder of mortgage broker and property portal Share to Buy.

North East Hampshire MP Ranil Jayawardena has declared that he gets “ongoing preferential borrowing” of around £7,000 a year from Lloyds Banking Group despite leaving his job at the lender in June 2015.

Meanwhile, Croydon South MP Chris Philp has registered an interest as the co-founder and partner of property finance and investment firm Pluto Capital Management.

Twickenham MP Tania Mathias is a director of real estate management company Oak Circle.

The register reveals that South Basildon’s MP, Stephen Metcalfe, is also a director of real estate letting company Aysgarth Properties.

The filings also show that Edgbaston MP Gisela Stuart was a partner in wealth management firm Vestra Wealth until July last year.

Royal Bank of Scotland paid former chancellor and current Rushcliffe MP Ken Clarke £10,000 plus VAT for a speech in Copenhagen last March. The fee did not include business class flights, accommodation and expenses.

Former deputy prime minister and current Sheffield Hallam MP Nick Clegg earned £36,660 from Barclays for giving a speech last February.

Housing minister Gavin Barwell is also on the register, but barely accepted any extra money or gifts last year. Barwell received two football tickets worth £540 from Everything Everywhere for a game at Wembley Stadium in August.



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