How rich is Labour leader Jeremy Corbyn?

Labour leader’s riches revealed

Jeremy Corbyn, aka “socialist Jeremy Corbyn” or “Comrade Corbyn”, earns money. Yes he does. This is because despite many fearsome reports that he is some kind of Trotskyite apparatchik, Corbyn remains a capitalist.

As such, wealth creation from a market economy isn’t something he’s on course to try and bring his hammer (or indeed sickle) down upon.

Well, not entirely anyway.

Here at London Loves Business, we have done various articles over the years examining our parliamentary representatives’ earnings. Their money comes from our taxes – we want to know a little bit about where it goes and if it’s all really worth it.

So how much moolah has Corbyn got?

Base earnings

Corbyn has been an MP for almost 600 years. Well, actually, 33 years, but either way, it’s a long old time. He’s obviously pretty popular with the denizens of his constituency, Islington North, which is in north Islington.

His base salary as an MP currently stands at £67,060 – a rather pleasant sum.

Leader of the (pay) pack

Corbyn also receives extra dosh for winning his almighty landslide and for waving his huge mandate about.

This amounts to an extra £58,000 (or fifty eight bloody grand, as they say in Islington North).

Total

This brings Corbyn’s official salary, as paid to him, by us the taxpayers, to £125,000 each year.

Expenses

We all know that many MPs like to flaunt the funds when it comes to expenses, particularly up until the point where they get caught and have to pay a bit of it back again. So how does Corbyn measure up to his colleagues?

MPs representing London constituencies aren’t allowed to claim rent, so Corbyn doesn’t get this perk.

Corbyn is a serial low expenses claimant. During the 2009 MPs expenses scandal, while MPs from all sides were caught on the fiddle to the tune of tens of thousands, Corbyn’s expenses amounted to the perverse figure of £8.95, which he said was for a new printer cartridge. Since April 2015, Corbyn has racked up expenses of £692.70 according to the independent parliamentary standards authority. Hey big spender.

The bike

Corbyn bicycle

Corbyn mounts his old bicycle on January 9 2016. When will he get a new one?

Jezzer recently admitted that he “covets” a new red racing bike worth £500. Of course it was red. Of course.

Now, £500 is very little money when it comes to buying a bike, and with Corbyn’s rather generous salary, he really he shouldn’t be coveting stuff like that. He should be striding into the bike shop with a wodge of cash and helping himself to the finest bicycles available to humanity.

But he didn’t even have to do that. Instead, some generous souls crowd-funded Jezzer’s dreamboat cheapo-bike. This is quite astonishing. Which other MPs have ever been crowd-funded to own anything?

Car?

Corbyn doesn’t own a car. But since he became leader, he has been driven about in a taxpayer-funded car. Is this acceptable behaviour?  

The house

Corbyn’s home in North London is worth an estimated £650,000. That is plenty of money. He could sell that and give everyone in the UK a penny. Why doesn’t he do that if he is so communist?

The £3m MP

“Corbyn has cost us £3m so far…” is what one Daily Mail headline informs us. Astonishing. Three million pounds. Ah, but then you read on down the article, the £3m, it turns out is the suspicious figure the Mail has calculated as the total amount paid to him during the entire course of his career as an MP, since 1983! The rogue! He’s been accepting the same salary as everyone else in parliament. And who knows how much he’s saved up? Someone have a quiet word, this fellow is out of control.

 

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