David Davis’s surprise elevation to the Cabinet job of Secretary of State for Exiting the EU will have consequences.
In accordance with government rules, the 67-year-old former military hardman will now have to give up a sinecure he has enjoyed since 2013 which brought in a handy £34,000 for working just six days per year.
That’s £5,666 per day.
In what now appears to have been a rather ironic business arrangement, Davis is (or was) a supervisory board member of Mansfeider Kupfer Und Messing GMBH, a German manufacturing company based in the state of Saxony-Anhalt.
So David Davis is Secretary of State for Exiting the EU, or Sexit for short?
— Michael Crick (@MichaelLCrick) July 13, 2016
He’s not the only one whose financial interests outside of politics will take a hit.
Boris Johnson’s shock installation as Foreign Secretary will have financial consequences for him as well.
Until now Johnson has been pocketing £22,916.66 a month writing a weekly column for the Daily Telegraph.
That handsomely paid gig will have to come to an end with immediate effect.
It’s not all bad.
As humble backbench MPs, David and Johnson were on about £75,000 a year.
Last night’s promotions will see their salary jump to almost £135,000.
However, they are likely to have to work harder for their money.
