Tony Blair earned £20m in just one year advising business bosses and foreign governments
Former Prime Minister Tony Blair earned £20m in one year
Tony Blair earned more than £20 million last year from advising business chiefs and foreign governments, it was reported yesterday.
The former Prime Minister’s income since leaving Downing Street has been shrouded in mystery, but the new figure emerged during an interview with Mr Blair by Financial Times editor Lionel Barber.
The size of the former Labour leader’s income is certain to provoke fresh criticism of his money-making exploits since he left office, even though he has insisted he pays 50 per cent income tax on all his earnings.
He told Mr Barber, who interviewed him in Jerusalem, that the money was ploughed back into his philanthropic ventures, adding: ‘The purpose is not to make money. It is to make a difference.’
Mr Blair’s financial affairs have been difficult to unravel because a network of companies and partnerships allows him to avoid publishing full accounts.
In January he filed accounts declaring an income of £12 million last year for just one of his dozen or so companies, Windrush Ventures.
But the accounts appeared to show he had paid tax on only a fraction of the income, thanks to administrative expenses experts described as ‘surprisingly’ high.
Apart from his high-profile peace-making role in the Middle East and work at charitable foundations he has established, Mr Blair runs a business consultancy, Tony Blair Associates, which has deals with the governments of Kuwait and Kazakhstan.
He is also a paid adviser to US investment bank JP Morgan and to Zurich International, a Swiss-based insurance company.
In the interview, Mr Blair reveals he is paid £2.5 million a year by J P Morgan and a lesser amount by Zurich. He also charges up to £190,000 for lectures and after-dinner speeches.
Mr Barber said in an accompanying article: ‘Mr Blair’s income last year from government advisory work as well as from speeches and consultancy is believed to have been about £20 million. His financial advisory service – Tony Blair Associates – is understood to be generating several million pounds in additional revenue.’
The figure involving Blair's finances emerged during an interview with Financial Times editor Lionel Barber
Mr Barber does not attribute these figures directly to Mr Blair, but it appears he was briefed by aides.
Observers say the former Prime Minister appears to be raising his public profile in Britain, and clearing the decks about his financial status, before making a return to a significant political role.
There is growing speculation that he wants to become the next European president. After a low profile, he gave two BBC interviews and was guest editor of the Evening Standard last week. No one from Mr Blair’s office was available for comment last night.
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