George Osborne Was Paid £100,000 For Five Hours' Work

    The former chancellor is earning lots of money from his speaking fees.

    George Osborne was paid £98,446 for delivering just three speeches in September and October, according to official parliamentary records that show how the former chancellor has swiftly increased his earnings following his departure from government.

    The Conservative politician has twice travelled to the US to give speeches to the New York Securities Industry and Financial Markets Association, while he made an additional trip to the West Coast to address Stanford University's Hoover Institution.

    The speeches lasted four hours and 30 minutes in total, giving Osborne a pay rate of £21,876 an hour.

    Osborne was sacked by incoming prime minister Theresa May this summer, leaving him a mere backbench MP without access to many of the benefits that come from being a cabinet minister.

    He took a financial hit, with his salary dropping from £135,527 to the standard MP's salary of £74,962. Being sacked also meant he no longer receives £33,562 a year from renting out his share in his family's London house while living rent-free in a Downing Street flat.

    Osborne signed up to the US-based Washington Speakers Bureau shortly after the election and said he intended to work for it "one or two days a month".

    He told the organisation, which regulates the work of former ministers, that he would "personally approve any engagement to ensure that there is no conflict of interest" in any booking and pledged to not use any privileged information from his time as a minister.

    A spokesperson for George Osborne said: " "As George remains an MP, all these speaking engagements are registered publicly rather than kept secret – and that's how it should be."