Ex-Welsh Secretary to net almost £200k from second jobs with private investment firms
A former Welsh Secretary is set to net almost £200,000 from his second jobs.
John Redwood, the Tory MP for Wokingham in Berkshire, earns twice as much from the lucrative roles with private investment firms than he does from representing his constituents.
All MPs in Westminster receive a basic annual salary of £81,932 each year. They also get expenses to cover the costs of running an office, employing staff, accommodation, as well as for travelling between Parliament and their constituency.
But according to analysis by the i, Redwood is set to rake in almost £200,000 over the next year.
He will earn almost £193,000 over the next year as chair of the investment committee of wealth management firm Charles Stanley.
For this wage he is expected to contribute only 50 hours’ work each month. in June he received a £35,000 bonus from the company on top of his substantial annual salary.
As a member of the advisory board of Epic Private Equity, he also earns £5,000 a year for just one hours’ work each month.
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Easy. If you are a Charles Stanley customer, call them up and complain.
Shame most of their customers will be tory voters and not understand or care.
I have a ISA at Charles Stanley, and I’d spotted the occasional article by him on their website. I live over 140 miles west of Wokingham, so I hope folks there appreciate how much I’m paying their MP to keep them informed of his thoughts on the economy. I had no idea it was that much!
I came into politics to serve the people, said John Redwood who served himself. #ToriesAreCorrupt 🇬🇧
Not a politician I have much respect for.
He’s a Tory, we expect nothing else.
Don’t knock them our poor MPs are so under paid they have to take these extra jobs just to survive ! And I’m sure if they worked too many hours – they’d lose all the other Westminster benefits they get ! We wouldn’t want them to lose say £20pw now would we – how would the poor souls cope?