Rishi Sunak Has Earned More Than £4.7 Million In The Last Three Years

Rishi Sunak earned just under £5 million over the last three years, it has been revealed.

Tax returns dating back to his time as chancellor show that between 2019/20 and 2021/22, he received £1,006,374 in income, plus £3,760,588 in capital gains.

That makes a total of £4,766,962.

On that, he paid income tax and capital gains tax totalling £1,053,060.

A Labour source said: “So while Sunak was jacking up everyone else’s tax, he was paying a tax rate of about 22% on millions of pounds of income.”

Downing Street has been promising to release the PM’s tax returns for months, but eventually chose to do so on the same day that Boris Johnson was giving evidence to the privileges committee and MPs were voting on the Windsor Framework.

That led to suggestions that Number 10 were trying to ensure that it got less media coverage that would ordinarily have been the case.

Sunak’s income comes from a mixture of his MP’s and ministerial salary (£411,000), share dividends of £542,000 and £3,244 in bank interest.

His capital gains income comes from a US-based investment fund, which is currently held in a blind trust.

In addition, Sunak - who held a US green card when he lived in California - also received share dividends in America totalling $344,318 (around £281,000) over the last three years and paid £51,648 (£42,200) in tax. 

Lib Dem Cabinet Office spokesperson Christine Jardine said: “After months of promising to release his tax returns, I don’t understand why Rishi Sunak has snuck them out whilst the world is distracted with Boris Johnson’s partygate grilling.

“People will be much more concerned today about the staggering tax hikes Rishi Sunak has imposed on them. 

“The blunt truth is that we should judge politicians on their actions, not their wealth. Rishi Sunak will be remembered as the tax hiking Prime Minister and no Boris Johnson distraction will stop that.”