Osborne to earn £650k a year at BlackRock

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BlackRock will pay former chancellor George Osborne £650,000 a year for working four days a month as an adviser.

Osborne will advise on European politics and policy, Chinese economics and market trends, according to the Financial Times.

The figure is Osborne’s total remuneration, but the figure may rise as he expects to get shares in the firm too.

The figure was disclosed in the House of Commons register of members financial interests on Wednesday.

The register also shows that Osborne earned £786,450 last year from giving 15 speeches, mostly to financial firms.

By contrast, he earns £74,000 a year for being a backbench MP.

The former chancellor earned £141,752 for giving two speeches to JP Morgan, £51,328 for giving a speech to Aberdeen Asset Management and £51,829 for speaking to HSBC.

Additionally Osborne earned £40,567 for giving a talk to St James’s Place.

The former chancellor took up his role at BlackRock in February.

Osborne joins Rupert Harrison, architect of pension freedoms and his former economic adviser.

Harrison has been a strategist at BlackRock since 2015.