Since launching his push to run the country, Sir Keir Starmer has been at pains to play down his privilege and play up his working-class roots.
But 20 years as a lawyer before his move into politics has put him comfortably into the country’s top 1 per cent of earners.
His property dealings and gold-plated pension pot alone place his worth at around £3 million.
During the 2020 Labour leadership contest, Sir Keir – who was paid up to £400 an hour during his two decades as a senior lawyer – played down his wealth.
‘I’m not a millionaire,’ he said, even though he conceded his north London townhouse might, then, be worth £1 million.
During the 2020 Labour leadership contest, Sir Keir – who was paid up to £400 an hour during his two decades as a senior lawyer – played down his wealth
In fact the Kentish Town property, which he and wife Victoria bought in 2004 for £650,000, is now estimated to be worth £2 million.
It has to be stressed, however, that no one knows to what extent the property is mortgaged or other financial arrangements linked to it.
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The 62-year-old is also entitled to two annual salaries – one as a constituency MP and one as PM – totalling £166,786.
His wife, 50, works in the NHS in occupational health, having previously been a solicitor.
According to The Sunday Times, her salary is believed to be up to £50,000 pro rata.
Before entering politics, Sir Keir earned £1 million as Director of Public Prosecutions (DPP) between 2008 and 2013.
He also amassed a £700,000 pension which – on top of his MP’s retirement allowance – is expected to give him a publicly funded pot worth about £1 million.
In common with his predecessors as DPP, Sir Keir’s pension is exempt from tax rules that he has said should apply to other workers who save more than £1 million.
The arrangement meant he could continue to save money from his salary as an MP into his pension pot without incurring a tax bill.
The benefit was abolished the year after he stood down as DPP.
Sir Keir with his wife Lady Victoria Starmer who works in the NHS in occupational health, having previously been a solicitor. According to The Sunday Times, her salary is believed to be up to £50,000 pro rata
Before entering politics, Sir Keir earned £1 million as Director of Public Prosecutions (DPP) between 2008 and 2013
Sir Keir has also earned a six-figure sum for legal work since stepping down as DPP. He earned at least £100,000 in private consultancy fees for the law firm Mishcon de Reya, and in 2020/21 he received more than £21,000 for legal services.
However, he stopped taking on legal work when he became Labour leader in April 2020.
In addition, over the past two tax years Sir Keir’s earnings from salary and property sales have been in excess of £200,000.
