Keir Starmer Net Worth: How Much Does the Labour Leader Earn?
Keir Starmer Net Worth: How Much Does the Labour Leader Earn?.
Since he started his campaign to lead the country, Sir Keir Starmer has been trying hard to downplay his privileged background while emphasizing his working-class origins.
However, after spending 20 years as a lawyer before diving into politics, he’s found himself among the top 1% of earners in the UK.
His real estate investments and impressive pension alone have his net worth sitting at around £3 million.
During the 2020 Labour leadership race, Sir Keir, who earned up to £400 an hour as a senior lawyer, downplayed his financial status.
He claimed, "I'm not a millionaire," even though he admitted that his north London townhouse could be valued at around £1 million at that time.
The Kentish Town place that he and Victoria picked up back in 2004 for £650,000 is now thought to be valued at around £2 million. That said, it’s important to note that nobody really knows how much of it is mortgaged or what other financial deals might be tied to it.
The 62-year-old gets two annual salaries—one for being a constituency MP and another for his role as PM—adding up to £166,786.
His wife, who is 50, works in occupational health for the NHS and used to be a solicitor.
As reported by The Sunday Times, her salary is thought to be around £50,000 pro rata.
Before diving into politics, Sir Keir made £1 million while serving as the Director of Public Prosecutions (DPP) from 2008 to 2013.
He also built up a £700,000 pension, which, along with his MP retirement allowance, is expected to give him a publicly funded total of about £1 million.
Like his predecessors in the DPP role, Sir Keir's pension is not subject to the tax rules he believes should apply to other workers saving over £1 million.
This setup allowed him to keep saving from his MP salary into his pension without facing a tax hit.
However, this benefit was scrapped the year after he left his DPP position.
Sir Keir has raked in a six-figure amount from legal work since leaving his role as DPP. He made at least £100,000 in private consultancy fees with the law firm Mishcon de Reya, and during the 2020/21 period, he brought in over £21,000 for legal services.
However, he halted any legal work once he took on the role of Labour leader in April 2020.
Additionally, in the last two tax years, Sir Keir's income from his salary and property sales has topped £200,000.
Keir Starmer's impressive journey from a respected lawyer to the leader of the Labour Party highlights his dedication, skill, and leadership. Despite downplaying his privileged background, Starmer's success in law, where he earned millions as Director of Public Prosecutions, reflects his ability to navigate complex challenges.
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His work in politics, including serving as an MP and Prime Minister, underscores his commitment to public service. With a diverse portfolio, including valuable real estate and a strong pension, Starmer has proven himself a capable leader who combines experience, financial acumen, and a genuine passion for bettering the country.
