Downing Street has published a summary of the taxable income of Prime Minister Keir Starmer, Chancellor Rachel Reeves, and Deputy Prime Minister Angela Rayner. Discover what these official tax records reveal and how it impacts UK taxpayers like you.
Downing Street has published a summary of the taxable income of Prime Minister Keir Starmer, Chancellor Rachel Reeves, and Deputy Prime Minister Angela Rayner. These official records offer an insight into their earnings and effective tax rates for the tax year ending 5 April 2024.
According to the summary, Keir Starmer earned £152,255, comprising:
He paid a total of £54,718 in income tax, resulting in an effective tax rate of 35.9%.
By contrast, former Prime Minister Rishi Sunak paid £508,308 on an income of £2.2 million, which equated to a much lower tax rate of 22.8%.
Angela Rayner's income totalled £85,205, including:
She paid £21,514 in tax
Effective Rate: 25%+
Rachel Reeves earned a similar base salary to Rayner, but also received:
Effective Tax Rate: 26.3%
Official Source: These figures were officially published and are publicly accessible via the UK government website.
Understanding how effective tax rates work and how different types of income are taxed can help you make more informed financial decisions. While most of us won't earn like a Prime Minister or Chancellor, we all have the same obligations when it comes to filing our tax returns correctly and on time.
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