UK POLITICS
How much will new UK Prime Minister Keir Starmer earn?
A look at how much Labour leader Starmer will earn upon entering Downing Street, after his party secured a landslide victory in the 2024 UK general election.
10 Downing Street will have a new occupant, after the UK’s ruling Conservative Party was defeated in the July 4 elections. Labour leader Keir Starmer will become the country’s 58th Prime Minister, having steered the centre-left party to a landslide victory that returned it to power for the first time since 2010.
A look at the Prime Minister’s salary
The salary offered to the Prime Minister comprises two components: the salary earned as a Member of Parliament (£91,346 and that earned as Prime Minister (£80,807). However, regarding the second portion, leaders only claim £75,440, adding to an annual salary of £166,786. For comparison, in the United States, the President earns $400,000 a year, or around £313,420. Meanwhile, in France, the President earns around £152,00, while the Prime Minister earns a more generous sum of roughly £172,750.
A critical note is that a salary is paid to the Prime Minister and all those living and having served in the role. However, as the UK’s Institute for Government noted, the amount given to those no longer serving adds up to £115,000 a year, and former leaders are not required to accept the payment. Whether or not former PMs should receive a salary for life was hotly debated following Liz Truss’ short tenure as Prime Minister, with her time in office only lasting forty-nine days.
How many former Prime Ministers claim a salary?
The Institute for Government reported that six former Prime Ministers claimed salaries between the 2018/2019 and 2022/2023 fiscal years. John Major and Tony Blair claimed the full £115,000, while Gordon Brown claimed nearly that amount but never exceeded £114,802. In 2020/2021, David Cameron claimed £113,423, the highest amount over that period, with the lowest claim coming in 2021/2022 with £106,747. Teresa May claimed £113,422 in 2022/2023, representing the highest sum she has distributed since she became eligible for the life-long payment.