MPs have earned £17.1m on top of their salaries in this parliament, with around two-thirds of the money going to just 20 MPs.
As part of Westminster Accounts, a joint project between Sky News and Tortoise Media to shine a light on how money works in politics, we found the majority of the extra earnings went to Tory politicians – a total of £15.2m – while Labour MPs earned an additional £1.2m.
Other high-profile cases of MPs staying within the rules but earning thousands for outside work emerged, and demands for reform began to ring from all corners of the Commons.
Some changes are due to come into effect later this year, with MPs to be banned from taking on work as political or parliamentary consultants from March.
Advertisement
One source involved in drafting the new rules suggested this could impact the second jobs of around 30 MPs.
But they will not prevent others from earning significant amounts for speeches, TV appearances and legal work.
As mentioned, Mrs May has accrued the most in the past three years with a lengthy list of speaking engagements.
Her single biggest pay cheque came from Cambridge Speaker Series, who gave her £408,200 for six talks in California, as well as flights and accommodation for her and a member of staff.
Mrs May was able to earn £38,000 from MPSF for a talk she gave virtually.
Please use Chrome browser for a more accessible video player
2:00
How you can explore the Westminster Accounts
Perhaps most notable, however, is the money she received from the World Travel and Tourism Council for a speech she gave in November.
Her entry in the register of members’ interests makes no mention of the fact this £107,600 speech was delivered in Saudi Arabia – a country she blocked ministers and officials from visiting for a period while she was prime minister following the murder of journalist Jamal Khashoggi.
Mrs May has said the money she earns goes into a company called the Office of Theresa May Limited, from which she pays herself a salary of £85,000 a year. The rest of the cash, she says, goes to support her charitable work, though it is not known how much, and to pay for other activities as a former prime minister.
MPs are not required to make public their charitable donations, but Mrs May does carry out extensive charitable work – including for diabetes groups.
Despite repeated requests for comment about her earnings, no response has been received from Mrs May.
The next highest paid MP for work outside of parliament was Sir Geoffrey Cox, who totted up £2,191,387 from nine different law firms and a local Conservative association.
Image: Sir Geoffrey Cox pictured when he was attorney general. Pic: UK Parliament
There was controversy last year when the former attorney general was found to have earned over £800,000 from the law firm Withers for his work on an inquiry into corruption in the British Virgin Islands.
His earnings from Withers have now risen to over £1.8m in the past three years.
In a statement, Sir Geoffrey said: “A barrister retained to advise in a case is no more to be personally identified with the purposes and views of his client than a plumber with the views of his customer or a doctor with those of his patient.
“Therefore, there is no conflict of interest between my work as a barrister and my role as a member of parliament. On the other hand, I frequently put my experience and understanding of the law at the service of my constituents in helping them to resolve their individual problems in my regular advice surgeries.”
The former attorney general added: “Private practice as a barrister is certainly no more time consuming and demanding than the role of attorney general. If it is possible to carry out the role of an MP while also the senior law officer, it is certainly possible to do so while continuing selective practice at the Bar.”
The third spot in the list of parliament’s biggest earners is taken by another former prime minister, Boris Johnson.
Almost all of his declared earnings since the last election came from just four speeches in October and November last, one of which in New York was paid at a rate of around £32,500 per hour.
The fourth spot went to another Tory MP, Fiona Bruce, who earned £711,749 from her own law firm on top of her salary.
Image: Tory MP Fiona Bruce. Pic: UK Parliament
In a statement to Sky News, Ms Bruce said: “Much of the sum declared is in fact tax paid directly to HMRC on my behalf which, to be scrupulously correct, I have declared though not personally received.”
She added: “Examination of my entries shows the limited hours I spend in the law firm; this limited time does not detract from my commitment to my constituents.”
Fellow Conservative Sir John Redwood came in fifth, earning £692,438 with the majority coming from his “global strategist” role at investment firm Charles Stanley.
And sixth place is Foreign Office minister Andrew Mitchell with £464,232 – over £100,000 of which was paid from advising investment bank SouthBridge on “African matters”. Mr Mitchell’s earnings were accrued while he was on the backbenches. He resigned from all his outside interests when he returned to government in October.
Other notable names in the list include former chancellor Sajid Javid, who has earned £361,566 from advising banks on the global economy and giving speeches.
Conservative MP Sir Bill Wiggin has made over £250,000 as an asset manager – running four funds, all based in the tax havens of the Caymans and the island of Bermuda, while ex-transport secretary Chris Grayling, known for granting a £14m ferry contract to a company with no ships, is now making £100,000 a year advising a ports and shipping business.
Only two Labour MPs made it into the top 20 earners, one of which is David Lammy, who has declared income from more than 40 different sources – the most of any MP on our list.
Image: Shadow foreign secretary David Lammy
The shadow foreign secretary has listed at least 30 speaking and training engagements since December 2019, worth around £100,000, as well as more than £87,000 for a radio programme on LBC.
Sky News approached both Mr Lammy and the Labour Party to ask whether his work would qualify as an “exemption” from Sir Keir Starmer’s planned ban on second jobs, but no response was received.
However, Mr Lammy has in the past made an impassioned defence of his work on his radio show, saying: “Why am I here? Why am I pleased to be here? One because I am the only black presenter on LBC. It’s important for my constituents – I love the fact they approach me and can hear me putting views that they agree with out there into the public.”
Jess Phillips is the only other Labour MP in the top 20, ranking at number 19 with £162,838 of external earnings that come from a range of places – including almost £65,000 for an advance on a book, £25,000 for appearing on Have I Got News For You, and just shy of £30,000 for columns in the Independent.
Outside earnings for the Liberal Democrats totalled £171,000 – but £159,758 of that has been earned by party leader, Sir Ed Davey, who is the 21st highest earning MP.
He earns £5,000 a month as a political consultant for Herbert Smith Freehills and £37,984 as an asset manager for solar projects.
Commenting on the Westminster Accounts findings on MPs’ earnings, Hannah White, director of the Institute for Government, said the party affiliation of those receiving the most outside income showed why reform has been slow.
She told Sky News: “When you look at the data, it is very clear that there is a party pattern to which MPs are getting outside earnings.”
“I think that points to one reason why there hasn’t been a big incentive to sort this out in this parliament.
“[It explains] why it has been the case that although parliament decided that it wanted to put some restrictions on outside earnings, really the changes that have been made are pretty minimal, and there’s no real incentive on the ruling Conservative Party to push their MPs to change something like that”.
The family of a dog walker killed by a psychiatric patient say they have been ‘treated like dirt’ by the NHS after learning his attacker has been granted permission to leave hospital.
Lewis Stone was stabbed to death by David Fleet in a random attack in Borth, Wales, in 2019, shortly after Mr Fleet had been released into the community.
Mr Stone’s family were informed of the update to his care just hours after Sky News aired their first TV interview calling for an internal NHSTrust report into its handling of Fleet’s case to be released.
Please use Chrome browser for a more accessible video player
3:11
From 10 April: Victim’s family demand answers over killer’s NHS care
Mr Stone’s stepdaughter, Vicki Lindsay, told Sky News: “As victims, we have been treated disgracefully.
“We still do not know why the killer was released 10 days before he attacked Lewis, who made that decision and why, and who is going to be held accountable for it.
“But as if all that were not bad enough, only six years on, we now get to live knowing that the killer is now allowed out at night time.”
Ms Lindsay also told Sky’s Sarah-Jane Mee that “my biggest fear is that it’s going to happen again – I can’t sleep at night thinking about other families going through what we’ve gone through”.
More on Wales
Related Topics:
Mr Fleet was sectioned under the Mental Health Act after admitting manslaughter with diminished responsibility.
He was suffering from paranoid schizophrenia at the time of the attack and told psychiatrists that if he had not stabbed Mr Stone, the voices in his head “were going to kill him”.
Image: Lewis Stone was fatally stabbed in February 2019
Patients who have committed a mental health-related homicide can be granted permission to leave their hospital under Section 17 of the Mental Health Act.
It is considered part of the patient’s rehabilitation and preparation for eventual discharge.
What has the MoJ said?
A Ministry of Justice spokesperson said: “We understand this decision will be difficult for the Stone family, and our thoughts are with them.
“Any decision to approve access to the community is only made after a thorough risk assessment and with strict safeguards in place.”
Image: Lewis Stone with his granddaughter Sammy
The Hywel Dda health board says it does not intend to release an internal report into Fleet’s care.
Sharon Daniel, the interim executive director for nursing, quality and patient experience, said: “The duty of candour for patients came into force in Wales in April 2023.
“At the time of this incident and concern, we fulfilled our duties to be open.”
A senior NHS official has called the decision not to release the internal report “callous and uncaring”. Speaking on condition of anonymity, they said: “On the face of it, this family has been failed multiple times over.
“Of course, there is a balance to be struck between the rights of the family and the rights of the person detained, but the basic lack of transparency and consideration here undermines the duty of candour.”
Freedom of Information requests made by the victim’s support organisation Hundred Families have found that nearly 400 people were killed by former mental health patients between 2018 and 2023.
However, this number is expected to be a significant underestimate as a quarter of NHS Mental Health Trusts refused to say how many of their patients went on to kill, as they don’t want to risk identifying offenders.
Julian Hendy, who founded Hundred Families, said: “Unfortunately the family of Lewis Stone is not alone. There is a terrible lack of openness and transparency and that needs to change.
“The public needs to know that mental health services are keeping people safe and learning effectively when things go wrong.
“At the moment, by failing to share information the public cannot be reassured.”
On Tuesday, Rehman pleaded guilty to causing death by dangerous driving in his Mercedes Sprinter van.
Prosecutor Rachel Shenton told Manchester Crown Court that he had visited two massage parlours in the city hours before.
She added he had taken “at least 20 lines of cocaine” in seven hours.
Judge Alan Conrad KC heard it was the prosecution’s case that Rehman’s drug consumption adversely affected his driving.
The Crown Prosecution Service (CPS) said in a statement that Rehman ignored stop signs and gave the tram driver no time to react before it struck the side of the van, which then mounted the pavement.
Abbie Clarke, senior crown prosecutor for CPS North West, said: “It is clear his driving fell far short of what is expected of a competent and careful driver.
“Rehman failed to take responsibility for his actions. He fled the scene in a taxi and denied that he drove dangerously in interview, only accepting responsibility on his third hearing before the court.
“He must now face the consequences for his role in this wholly avoidable tragedy.”
Rehman was previously jailed in 2017 for conspiracy to pervert the course of justice by burning a car involved in a fatal hit-and-run collision, which killed a 25-year-old man in Chorlton.
He has been remanded in custody until sentencing on 27 May.
Britain’s economy will be among the hardest hit by the global trade war and inflation is set to climb, the International Monetary Fund (IMF) has warned – as it slashed its UK growth forecast by a third.
In a sobering set of projections, the Washington-based organisation said it was grappling with “extremely high levels of policy uncertainty” – and the global economy would slow even if countries manage to negotiate a permanent reduction in tariffs from the US.
Echoing earlier warnings about the risks to the global financial system, the IMF said stock markets could fall even more sharply than they did in the aftermath of Donald Trump‘s “Liberation Day” tariffs announcement, when US and UK indices recorded some of their largest one-day falls since the pandemic.
It comes as Chancellor Rachel Reeves prepares to meet her US counterpart Scott Bessent at the IMF’s spring gathering in Washington this week.
She is hoping to negotiate a reduction to the 10% baseline tariff the US president has applied to all UK goods. Steel, aluminium and car exports face an additional 25% tariff.
As long as the world’s two largest economies are at war with each other, there will be considerable spillovers. The US and China account for 43% of the global economy.
If demand in either nation slows, that has ripple effects across the world. Tariff or no tariff, exporters to those markets will be hurt.
If China redirects its goods elsewhere, that could hurt domestic industries – jobs could be at stake.
US and Chinese investors might hit pause on global projects and stock market devaluations could hurt consumer confidence. Things could unravel quickly.
Against that backdrop, it is difficult to say with any certainty what would happen to the UK but, even if we find a way to sweet talk our way out of tariffs, the dark clouds of the global economy are moving in every direction.
Britain is an open and highly trade-sensitive economy (we have a trade-to-GDP ratio of around 65%) and global spillovers will rain on us.
Then there are the spillovers from the financial markets. The IMF warned that rising government borrowing costs were weighing on economic growth.
While rising UK bond yields are, in part, a reflection of investor unease over the UK’s growth and inflation outlook, they also reflect anxiety over the US trajectory.
It’s worth bearing all of this in mind if Chancellor Rachel Reeves emerges from her trip to Washington with a deal.
The Treasury would no doubt celebrate the achievement. After all, a reduction in tariffs could make a big difference to some industries, especially our car manufacturers who are currently grappling with a 25% levy on goods to their largest export market. However, it would not solve our problems.
In fact, it would barely make a difference to our overall GDP. Back in 2020, the government estimated that a free trade deal with the US would boost the UK economy by just 0.16% over the next 15 years.
And overall GDP does matter. The chancellor desperately needs economic growth to support the country’s ailing public finances (when the economy grows, so do government tax receipts).
She will know better than most that the prize the US has to offer is comparatively small, so she should weigh up the costs of any deal carefully.
The IMF presented a range of forecasts in its latest World Economic Outlook. Its main case looked at the period up to 4 April, after Mr Trump announced sweeping tariffs on countries across the world, ratcheting up US protectionism to its highest level in a century.
If the president were to revert to this policy framework, global growth would fall from 3.3% last year to 2.8% this year, before recovering to 3% in 2026.
In January, the IMF was predicting a rate of 3.3% for both years.
Nearly all countries were hit with downgrades, with the US expected to grow by just 1.8% this year, a downgrade of 0.9 percentage points.
Mexico was downgraded by 1.7 percentage points, while China and Canada are forecast to slow by 0.6 percentage points and Japan by 0.5 percentage points.
The UK economy is expected to grow by just 1.1% this year, down 0.5 percentage points from the 1.6% the IMF was predicting in January. Growth picks up to 1.4% next year, still 0.1 percentage points lower than the January forecast.
Please use Chrome browser for a more accessible video player
2:22
Will tariffs hit UK growth?
Along with recent tariff announcements, the IMF blamed the UK’s poor performance on a rise in government borrowing costs, which has in part been triggered by growing unease among investors over the fate of the US economy.
When borrowing costs rise, the chancellor has to rein in public spending or raise taxes to meet her fiscal rules. That can weigh on economic growth.
Please use Chrome browser for a more accessible video player
1:07
Trump: Tariffs are making US ‘rich’
It also pointed to problems in the domestic economy, mainly “weaker private consumption amid higher inflation as a result of regulated prices and energy costs”.
In a blow to the chancellor, the IMF warned that the UK would experience one of the largest upticks in inflation because of utility bill increases that took effect in April.
It upgraded its inflation forecast by 0.7 percentage points to 3.1% for 2025, taking it even higher above the Bank of England’s 2% target and deepening the dilemma for central bankers who are also grappling with weak growth.
Meanwhile, inflation in the US is likely to jump one percentage point higher than previously forecast to 3% in 2025 on the back of higher tariffs.
The IMF forecast period ended on 4 April. That was before the US president paused his reciprocal tariffs on countries across the world while ratcheting up levies on China.
In a worrying sign for finance ministers across the world, as they attempt to negotiate a deal with the US administration, the IMF said the global economy would slow just the same if Mr Trump were to make his temporary pause on reciprocal tariffs permanent.
That is because higher tariffs between the US and China, which together account for 43% of the global economy, would have spillover effects on the rest of the world that offset the benefits to individual countries.
“The gains from lower effective tariff rates for those countries that were previously subject to higher tariffs would now be offset by poorer growth outcomes in China and the United States – due to the escalating tariff rates – that would propagate through global supply chains,” the IMF said.
In response, Chancellor Rachel Reeves said:
“This forecast shows that the UK is still the fastest-growing European G7 country. The IMF have recognised that this government is delivering reform which will drive up long-term growth in the UK, through our plan for change.
“The report also clearly shows that the world has changed, which is why I will be in Washington this week defending British interests and making the case for free and fair trade.”