New Times,
New Thinking.

  1. Politics
  2. Media
9 March 2017

George Osborne cut disability benefits by £1,560 a year – now he earns 19 times that a week

The former Chancellor’s extracurricular salary is revealed.

By Media Mole

It’s a beautiful thing when a politician leaves the frontbench – taking their knowledge, experience and benevolence from public service to absolutely caning the private sector. Your mole almost admires their dedication to the stereotype.

And George Osborne had gone above and beyond the call of duty. The Mirror has calculated that he will put away at least £1.5m in his first year out of government office. That figure comes from:

  • His £650,000 salary from global hedge fund BlackRock, for which he has to do four days of work per month. Four days.
  • £786,450 in private speeches.
  • £120,212 for a year’s work with a McCain Institute project.
  • And that’s not even counting his MP’s salary of £74,962.

Compare this figure with his decision while Chancellor to cut £30 a week in the disability benefit Employment Support Allowance.

That’s a loss of £30 a week to claimants – around £1,560 a year. So Osborne will earn more than nineteen times more in a week (around £29,936, if we don’t even count his basic MP’s salary) than will be cut in ESA in a year.

Select and enter your email address Your weekly guide to the best writing on ideas, politics, books and culture every Saturday. The best way to sign up for The Saturday Read is via The New Statesman's quick and essential guide to the news and politics of the day. The best way to sign up for Morning Call is via
  • Administration / Office
  • Arts and Culture
  • Board Member
  • Business / Corporate Services
  • Client / Customer Services
  • Communications
  • Construction, Works, Engineering
  • Education, Curriculum and Teaching
  • Environment, Conservation and NRM
  • Facility / Grounds Management and Maintenance
  • Finance Management
  • Health - Medical and Nursing Management
  • HR, Training and Organisational Development
  • Information and Communications Technology
  • Information Services, Statistics, Records, Archives
  • Infrastructure Management - Transport, Utilities
  • Legal Officers and Practitioners
  • Librarians and Library Management
  • Management
  • Marketing
  • OH&S, Risk Management
  • Operations Management
  • Planning, Policy, Strategy
  • Printing, Design, Publishing, Web
  • Projects, Programs and Advisors
  • Property, Assets and Fleet Management
  • Public Relations and Media
  • Purchasing and Procurement
  • Quality Management
  • Science and Technical Research and Development
  • Security and Law Enforcement
  • Service Delivery
  • Sport and Recreation
  • Travel, Accommodation, Tourism
  • Wellbeing, Community / Social Services
Visit our privacy Policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.

Content from our partners
An innovative approach to regional equity
ADHD in the criminal justice system: a case for change – with Takeda
The power of place in tackling climate change