Published: 11 May 2007
One thing is for sure: this time next year, Tony and Cherie Blair will be richer than they are today. No longer will they have to struggle by on Tony's annual salary of £187,611, Cherie's earnings as a barrister - estimated to be about £100,000 a year - plus the £30,000 a time she receives on the international lecture and the knockdown rent of £96,000-a-year, minus fees, from their house in Connaught Square. Soon they will be able to make serious money.
However, on the day Mr Blair goes to Buckingham Palace to hand in his resignation on 27 June, his income will first of all take a dip as he becomes a £60,675-a-year backbench MP.
The family will lose the flat over 11 Downing Street, and Chequers in Buckinghamshire - their weekday and weekend homes for 10 years - and will move to Connaught Square. They bought the house in 2004 for £3.5m, saddling themselves with mortgage payments of up to £16,000-a-month.
To tide them over, Mr Blair will be entitled to redundancy of £31,734. Retiring prime ministers are also entitled immediately to a £63,468 pension for life. In 2013, when he is 60, he will be eligible for another pension for his long service as an MP. Assuming that he has been paying the maximum contributions since he entered Parliament in 1983, it will be worth about another £40,000 a year. continue...
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