Liz Truss will be able to claim £115,000 (around Rs 1,06,36,463) per year for life despite serving as the UK Prime Minister for just 45 days.
Liz Truss announced that she is resigning as the UK Prime Minister on October 20. (Photo from @trussliz on Twitter)
By India Today Web Desk: Despite serving as the UK Prime Minister for just 45 days, Liz Truss is entitled to an annual payout of £115,000 (around Rs 1,06,36,463 according to current conversion rates) for life. Truss resigned from her post on Thursday, making her tenure the shortest of any British prime minister in history.
WHERE WILL THE MONEY COME FROM?
According to The Independent, the money that Truss will get every year for life will be paid from the taxpayer’s money. The outgoing Conservative leader can claim the money from the Public Duty Costs Allowance (PDCA) — which was introduced to help former prime ministers remain active in public life.
As per the government’s guidance, payments are made only “to meet the actual cost of continuing to fulfil public duties.”
The allowance was arranged after Margaret Thatcher’s resignation in 1990. It was announced by her predecessor, John Major, in March, 1991.
Since the scheme was first introduced, several prime ministers in the past have claimed millions, citing office and secretarial costs as a result of “their special position in public life”.
Truss will join six other living former prime ministers who are entitled to claim money through the allowance scheme. This means that taxpayers have to pay more than £800,000 per year.
Britain is currently on the brink of an economic crisis after Truss introduced her now-reversed ‘mini-budget’ policy. The £45 billion tax-cut package sent the markets into a tizzy and sparked widespread selling.
The Pound Sterling also crashed to a record low against the US Dollar after the policy was announced.