Ten Tory MPs have earned a total of £3.2m from outside work over the past two years
Britain’s top 10 highest-earning MPs have made more than £3.2m from their second jobs since the start of 2020.
New analysis by The Independent shows how the select group – all of whom are Conservatives – have earned huge sums in salaries and one-off payments doing work for a range of private firms.
The most recent register of financial interests shows that Sir Geoffrey Cox earned more than £800,000 in the past year working for law firm Withers, representing the government of the British Virgin Islands.
The former attorney general has also earned more than £130,000 from other legal work since the beginning of last year – making him the single highest-earning MP.
The spotlight has fallen on Sir Geoffrey after the Daily Mail reported that he had cast his votes by proxy while advising the British Virgin Islands government over a corruption probe launched by the Foreign Office.
But Sir Geoffrey is not the only Tory politician earning large sums from the private sector on top of his £82,500 salary, as the government comes under increasing pressure to crack down on second jobs.
Former prime minister Theresa May has earned around £760,000 from giving after-dinner speeches since the beginning of 2020.
Health secretary Sajid Javid has earned around £245,000 from outside work since the start of last year, mainly from salary payments for advising banking giant JPMorgan Chase and the software firm C3, before giving up the roles on his return to the cabinet.
Julian Smith, the former Tory chief whip, is making roughly £144,000 a year in payments from advisory roles with energy firms, while former transport secretary Chris Grayling earns £100,000 a year working for Hutchison Ports Europe.
More than 200 MPs have received outside earnings on top of their main job representing constituents in the past year. As well as consultancy work and directorships, a small number are also employed as doctors and nurses.
Previous analysis by The Independent showed that 32 MPs who act as consultants for private firms have earned just over £1.4m annually in salaries and one-off payments in the past year.
Labour leader Sir Keir Starmer has said his party would back a ban on MPs being able to hold consultancy roles and directorships.
The opposition has also called on Boris Johnson to launch an urgent investigation into Sir Geoffrey’s role in advising the government of the British Virgin Islands in relation to the corruption investigation.
The following 10 MPs have earned a combined total of £3.2m in salaries and fees from second jobs since the start of 2020:
Sir Geoffrey Cox
£970,000 – salary payments and fees from Withers law firm and fees from other legal work
£760,000 – speaking engagements in the US
£382,000 – consultancy fees for Fiona Bruce and Co LLP solicitors
£245,000 – salary payments from JPMorgan Chase and C3 (a software firm) and for speaking engagements
Sir John Redwood
£233,000 – salary payments with investment advisory company; payments to sit on the board of a private equity firm
£182,000 – salary payments for consultancy and advisory work for finance firms
£144,000 – salary payments for consultancy work with energy firms
Sir John Hayes
£118,000 – salary payments for consultancy work with energy trading firm; academic roles in education sector
£103,000 – salary payments for advisory work with finance firm; non-executive directorship of health firm; chair positions at Public Policy Projects
£100,000 – salary payments for advisory work with wealth management firm; advisory roles with satellite company and Shetland Space Centre