Prime Minister Salary UK – How Much Does Boris Johnson Earn?

Prime Minister Salary UK – How Much Does Boris Johnson Earn?

Do you want to know what the current UK Prime Minister, Boris Johnson, earns? Let’s find out in this brief guide..

Boris Johnson annual salary

Boris Johnson is entitled to earn £161,401 annually. £79,496 for his Prime Minister Role and £81,932 for being an MP.

Other privileges

The current Prime Minister and wife Carry have the right to live in the flat above Number 10, Downing Street.

They are also allowed to use the PM’s official residence at Chequers.

Where does Boris Johnson’s salary fall compared to other earnings?

The current Prime Minister’s earnings are in the top 1% earners in the UK.

Even with this, the Prime Minister’s salary compares less favourably with that of top earners in the UK and the world. Here are examples:

  • His salary is just a twentieth of what Chief Executives pocket in the UK.
  • The salary is a fraction of what Manchester united player and political campaigner Marcus Rashford earns. Marcus earns £10.4 million.
  • Boris’s salary is lower than that of the Canadian Prime Minister ($267,041) and way less than that of the Germany Chancellor ($369,727).
  • Johnson’s salary is half what the US president earns ($400,000) and what the President of the European Commission is paid (£405,000).

Who sets Boris Johnson’s salary?

The Independent Parliamentary Standards Authority (IPSA) is responsible for setting Boris Johnson’s salary.

The current Prime is fond of not claiming all the amount he is entitled to be paid. In 2020-21, for example, Boris claimed £75,440 out of the entitled £79,936.

The Prime Minister in 2020 also insisted that MPs and Government Ministers should not receive salary increments. This was in response to the Covid crisis that the country and the entire globe is in.

Boris Johnson earnings concerns

Some newspapers claim that the current Prime Minister is not happy with the salary he gets.

This is often related to the pay cut Boris had to take to become Prime Minister. Initially, Parliamentary records showed that Boris was one of the highest-paid backbench MPs. According to Evening Standard, Boris was earning a massive £275,000 from his Daily Telegraph newspaper column.

Boris Johnson’s net worth significantly lowered due to the heavy pay made as divorce settlement on divorcing ex-wife Marina Wheeler.

It is also suggested that Boris is concerned about housekeeping costs at Number 10 and financial support for his children. The childcare and schooling costs for his baby son, Wilfred, are also a primary concern for him.

Former prime ministers earnings

The following factors have determined the earning of former prime ministers in the UK:

  • Speaking engagements- Speaking engagements such as lecture and public speeches have fetched quite good amounts for former Prime Ministers. A perfect example is Theresa May, who earned big from speaking engagements such as the speech she made at Ivy League University, Brown in Rhode Island, America.
  • Advisory style appointments/signing book deals- If a Prime Minister agrees to attend advisory appointments and probably sign a few lucrative book deals, their earnings will get better.
  • International recognition- If a former Prime Minister is well recognized internationally, their earnings are likely to go up. Here, Boris definitely has the upper hand since he is a well-recognized international figure.

If inspiration is anything to go by, then Boris Johnson should be set off by Tony Blair, former Labor Prime Minister. Tony Blair is not only speculated to have been the highest-paid former Prime Minister in the UK but also the highest-paid public speaker in the world.

This said, Boris Johnson still impresses on one thing- any drop in his earnings is likely to be temporary.