David Cameron, George Osborne, Jeremy Corbyn & Boris Johnson Reveal Their Tax Records
In the wake of the Panama Papers (and increasing demand for transparency), top politicians in Britain are revealing their tax records. Here are the latest:
We’re admittedly surprised to see David Cameron on this list, but here we are: the Prime Minister has revealed his tax records from as far back as 2009, when he was Leader of Opposition. The previous year’s breakdown shows an income of a little over £200,000 (he has made no less than £150,000 since acquiring his current position) and about £75,000 in taxes paid. Cameron also received cash gifts of £200,000 from his mother after his father’s death in 2011, as well as more than £45,000 a year in rental income from his Notting Hill house. Overall, there’s nothing really questionable…you can check out that document in full here.
As expect, Jeremy Corbyn has released his tax information as well: according to his handwritten document, the Labour leader paid almost £19,000 in tax on his MP salary (a little over £70,000) and only made £1,850 in additional income. Here’s where it got iffy for him: he failed to include the £6,000 from his state pension on that tax return (he turned 65 in 2014). He also apparently overdeclared his main income (thus, overpaid tax) and got hit with a £100 penalty for filing late.
Chancellor George Osborne wasn’t that far off from Cameron: in 2014-15, he paid over £72,210 for about £198,000 in earnings, which consists of his official salary, rental income and share dividends from his family’s wallpaper company. You can check that out here.
Last but not least, Mayor of London Boris Johnson. Revealed via his Mayoral Register of Interests, Johnson paid out more than £1 million in tax over the past four years (for income nearing £2 million); last year alone, he paid more that £276,000 on a taxable income of about £612,000.
That seems to be it for now; we’d expect more politicians to reveal their tax figures (or get outed) sooner than later.