Forget all the hullaballoo over tax avoidance and shares in offshore trusts, what everyone’s really interested in is the nitty gritty of how much British Prime Minister David Cameron earns.
And it’s not really as much as you think.
David Cameron is by no means poor compared to the rest of us, but he is not mega rich either.
In his last self-assessment tax return, Cameron’s gross income is listed as £200,307.
That includes his salary of £140,522, net rental income of £46,899 – or profits from letting out his share of the family home in North London, interest on savings of £3,052
He also receives taxable expenses from the Tory Party of £9,834. These are described as expenses for clothes, travel and other associated costs.
As a world leader, most voters would expect Cameron would earn more than the chief executive of a FTSE100 company.
Their pay average £4.96 million a year.
According to the High Pay Centre, an independent think tank which monitors the salaries of top earners, the average British worker earned £27,465 a year.
For someone on the minimum wage of £6.70 an hour, the average annual salary is £13,936.
Some comparisons with other workers show their earnings are:
- Nurse: £24,799
- Teacher: £27,105
- Skilled construction worker: £25,242
- Office administrator: £17,960
- Factory worker: £21,453
- Science/technology professional: £38,349
Notes to the tax returns from Cameron’s accountant show he earned 33,089 royalties from his book Cameron on Cameron, which were donated to charities.
Corbyn’s lost his return
Other than that, the schedule shows that in January 2010, Cameron earned 39,051 from selling the shares in his controversial offshore trust, and that in July 2010, he sold any other shares he owned jointly with his wife.
The shares were sold at a loss o0f £2,507. No capital gains tax was due on either disposal.
“I can’t see any problems in the prime minister and the leader of the opposition publishing the details of their tax returns,” said a statement from 10 Downing Street.
“The prime minister has published his tax information for the past six years, covering his last year as leader of the opposition and five years as prime minister.”
Labour leader Jeremy Corbyn has delayed posting his tax returns as he seems to have lost the paperwork, but he has given an assurance he will publish the documents if HMRC provide him with a copy.