It seems as if Nigel Farage has emerged as the most highly paid UK Member of Parliament, earning nearly £1.2 million annually through GB News. The first interest register of the newly created British Parliament showed the Reform UK MP earning a monthly income of £97,900 as a presenter on GB News, a broadcaster jointly run by Paul Marshall, the hedge fund tycoon.
Additionally, Farage disclosed that a trip to the United States on July 17 – following an attempted assassination on former president Donald Trump – had cost £32,000. The trip was underwritten by Christopher Harborne, a crypto investor residing in Thailand who had formerly donated millions to the Brexit Party. The purpose detailed was to “support a friend who narrowly escaped death and to bring Clacton into the global spotlight”.
Farage also undertook a £9,250 journey to Brussels for the National Conservatism Conference in April, funded by George Cottrell, an informal advisor to Farage. Cottrell, a notorious character in Farage’s circle, served eight months in a US prison in 2017 after being found guilty of offering money-laundering services online. This occurred in 2014, prior to Cottrell’s involvement with the anti-EU party or Farage.
Moreover, Farage’s earnings from social media were also highlighted, revealing that he garnered £1,550 and £853 through platforms X and Meta respectively, and £4,000 from Cameo videos. The MP for Clacton is also compensated £4,000 each month by the Daily Telegraph.
Jo Maugham, the founder of the Good Law Project, argued: “You examine these figures and you contemplate, has Nigel Farage thrust himself to the zenith of the highest earners in Clacton? Good for him, but does it truly serve the public, does it?”
Previously, Geoffrey Cox, the Tory MP, was known as the highest-earning MP, also serving as a barrister. He used to earn £293,400 from Withers, a law firm, and received a substantial sum of £379,000 in July from an Indian law chamber for the job he executed from 2016 to 2018.
Confirmed by the latest register of interests, Keir Starmer, the Prime Minister, was presented with hospitality and four tickets to a Taylor Swift concert, courtesy of the Football Association, valued at £4,000. This generous gift comes after the Labour leader had already attracted attention for the £76,000 worth of gifts and hospitality he received while coming up in the ranks.
The register also uncovered the colossal amounts of cash handed to newly-elected MPs by the think tank, Labour Together, which was previously led by Morgan McSweeney, Starmer’s political advisor. This think tank, which is backed by private benefactors, contributed a hefty sum of nearly £900,000 towards general election campaigns of 106 MPs.
These monetary gifts, generally around £5,000 or £10,000, were mainly granted to parliamentary newcomers, with only seven MPs who retained their seats prior to the election.
Around half of the 211 newly elected Labour MPs received monetary contributions for their campaigns from Labour Together, led now by ex-MP, Jonathan Ashworth. He took on the position from Josh Simons, who has now become an MP.
Notably, apart from the financial support for the election campaigns, Labour Together also funded staff or research services costs for 10 ministers in the past year, including Rachel Reeves, Yvette Cooper, and David Lammy.