Sir Keir Starmer net worth – How wealthy is the Labour leader?
In 2021/2022, Sir Keir Starmer’s salary for being a Labour MP was £76,961 and he received as extra £49,193 for being leader of the opposition. He was previously Director of Public Prosecutions and head of the Crown Prosecution Service from 2008 to 2013, a role which is known to command a hefty salary.
In 2020/21, the Labour leader, who is a barrister, received more than £21,000 for legal services. He stopped taking on legal work when he moved on from being a shadow minister to become Labour leader in April 2020.
The Mail on Sunday reported in May 2020, upon Sir Keir’s election as Labour leader, that he owns seven acres of land in Surrey worth up to £10m. The newspaper said that Sir Keir acquired the property, on green belt next to the Surrey home where he grew up, in 1996, while he was working as a human rights lawyer.
During the 2020 Labour leadership campaign, Starmer the politician, played down his wealth. “I’m not a millionaire”, he said, albeit he later conceded the north London house that he shares with his wife Victoria Starmer, might be worth £1 million.
Sir Keir Starmer’s tax returns
In March 2023, it was revealed that Sir Keir Starmer had recently paid £118,580 in UK tax. The revelation came after Sir Keir released his own tax returns, responding a day after Prime Minister Rishi Sunak published details of his finances.
On top of his salaries as an MP and the leader of the Opposition, Starmer’s earnings in 2021/2022 included more than £85,000 in capital gains from the sale of a home he had bought with his sister.
The Labour leader’s records show the total UK tax he paid was £51,547 on total earnings of £147,633 in 2020/21, and £67,033 on total earnings of £212,087 in 2021/22
- Sir Keir Starmer’s net worth, reflected partly in his income and capital gains in 2021/22 was though dwarfed by that of the prime minister, Rishi Sunak, who earned more than £1.9m — nine times more than the Labour leader.
Was Sir Keir Starmer born into money?
Unlike many politicians,Sir Keir Starmer was not born into a life of privilege. Starmer was born in Southwark. His father, Rodney Starmer, was a toolmaker and his mother was a nurse. He was later educated at Reigate Grammar School in Surrey.
In light of the recent cost of living crisis, the Labour leader spoke to BBC explaining that he understood the financial plight facing families despite his multi million pound net worth. He shared: “I actually do know what it is like to sit around the kitchen table not being able to pay your bills.”
The former lawyer noted the family’s phone lines were cut off for “months at a time” as they “got to a point where we couldn’t pay for the utilities”.
Legal Career
Keir Starmer began his legal career as a barrister focusing on human rights law. Among the many cases that Starmer was involved with were the legal battles to get rid of the death penalty in the Caribbean and Africa, and the famous McLibel case involving MacDonalds.
In 2005, Starmer persuaded the House of Lords that evidence obtained by torture should be inadmissible in court.
In 2008, Starmer was named the new head of the Crown Prosecution Service and Director of Public Prosecutions (DPP). During his time as DPP, the CPS prosecuted the two men accused of murdering 18-year-old Stephen Lawrence. However during the same period, the CPS has been criticized for failing to effectively prosecute the TV entertainer Jimmy Saville. Starmer was said not to be directly involved in the case.
After standing down from his role at the CPS in 2013, Starmer refused to deny the possibility of entering politics – and he was chosen to stand as a Labour candidate the following year.
Sir Keir Starmer was knighted for his previous work as Director of Public Prosecutions in the 2014 New Years Honours list.
How do Starmer’s earnings this compare to Rishi Sunak?
As prime minister, Rishi Sunak is entitled to an annual salary of £167,391.
The prime minister’s earnings are made up of £80,807 for the role of Prime Minister, and an additional £86,584 for being an MP.
Sunak and his family, also have the right to live in the flat above the offices of 10 Downing Street; and enjoy the use of the Prime Minister’s official countryside residence at Chequers in Buckinghamshire.
In addition to his official salary as prime minister, Mr Sunak continues to receive income from his investments in a US based fund. In 2021/22 this investment fund is believed to have paid Mr Sunak a further £1.8 million.
This US based investment fund is listed as a ‘blind investment arrangement’ in the Register of MPs Interests. Mr Sunak can thus continue to receive income from his investments, without knowing where the money is invested, thereby avoiding any potential conflict of interests.
In March 2023, the prime minister published his tax return for 2021/22. This showed Mr Sunak to have total earnings of £1,970.992 for that tax year, on which he paid £432,493 of tax. Mr Sunak’s tax bill was made up of a mixture of income tax (charged at 45% on earnings over £150,000) and capital gains tax of 20%.
