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What is Jeremy Hunt’s net worth? Chancellor’s salary explained and how much he sold his business for

Chancellor Jeremy Hunt will ship his Autumn Assertion as we speak, along with his focus firmly on lowering the nation’s deficit.

It comes within the wake of stories that UK inflation rose to 11.1 per cent in October – a 41-year-high. Excessive inflation, precipitated largely by hovering power costs, has led to a price of residing disaster that has left many households and companies struggling to make ends meet.

You are reading: What is Jeremy Hunt’s net worth? Chancellor’s salary explained and how much he sold his business for

The Chancellor has warned that “selections of eye-watering problem” lie forward, including that the Authorities “will probably be asking everybody for sacrifices”.

However how a lot will these selections have an effect on the Chancellor personally? Right here’s what you could know in regards to the man dictating the UK’s monetary future.

What’s Jeremy Hunt’s internet value?

Mr Hunt’s precise wealth isn’t identified, however he reportedly has a internet value in extra of £15m.

He netted £14.5m after Hotcourses, the academic listings firm he co-founded in 1991, was bought to an Australian agency again in 2017.

Hotcourses compiles databases of locations to review within the UK, and shares data with abroad college students in search of to take programs in Britain.

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Mr Hunt arrange the corporate along with his childhood good friend Mike Elms. It was bought for £30.1m to IDP Schooling, a Melbourne-based pupil placement firm.

On the time of sale, Corporations Home confirmed that Mr Hunt owned 48 per cent of Hotcourses.

The Chancellor had stepped down as a director again in 2009, shortly earlier than his first cupboard appointment, transferring his shares to a blind belief.

After promoting the corporate, Mr Hunt mentioned in an announcement: “I’m extremely proud to have arrange a profitable enterprise, even prouder of the present Hotcourses staff, who’ve taken it from power to power, and intend to make use of a big proportion of the proceeds to marketing campaign for causes I consider in once I finally go away frontline politics.”

In 2018, Mr Hunt arrange a buy-to-let property enterprise referred to as Mare Pond Properties, which he says he owns collectively along with his spouse Lucia. The corporate purchased seven flats in Southampton.

A spokesperson mentioned on the time: “Jeremy and his spouse arrange the corporate as a automobile by means of which to make charitable donations and no salaries or dividends will probably be taken from it for his or her private profit.”

Mr Hunt presently earns £84,144 a yr for being the MP for South West Surrey, a place he has held since 2005.

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As Chancellor, he has an extra entitled wage of £71,673, and a claimed wage of £67,505, which means he brings house roughly £150,000 per yr.

In his Parliamentary Register of Pursuits, it’s listed that this yr Mr Hunt was employed by a number of corporations to talk at occasions for charges starting from £4,000 to £12,000, however all of those charges had been paid on to charity.

What did Jeremy Hunt do earlier than changing into Chancellor?

After graduating from the College of Oxford with a level in philosophy, politics and economics, Mr Hunt labored for 2 years as a administration marketing consultant at OC&C Technique Consultants, after which turned an English language instructor in Japan, earlier than occurring to discovered Hotcourses.

He turned an MP in 2005, changing into shadow minister for disabled individuals that very same yr.

His first job within the cupboard was as tradition, Olympics, media and sport secretary, which he held from Might 2010 till September 2012.

He was then made well being and social care secretary, a place he remained in for nearly six years. He’s the nation’s longest-serving well being secretary.

Mr Hunt moved to overseas secretary below Theresa Might, and had been out of the cupboard since 2019 till being appointed Chancellor in October.

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