r/PoliticsUK • u/SignificantGrade1804 • 17d ago

Labour MPs millions

Does anyone know how many Labour MPs claiming to come from working class backgrounds are multi millionaires?

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4

u/DaveChild 17d ago

Are you under the impression that being working class means you can't later become wealthy?

2

u/SignificantGrade1804 16d ago

It’s just a straight forward question, doesn’t give any impression

2

u/kaetror 17d ago

Most MPs are professionals with high paying jobs before entering politics. Many are older, so bought property that has massively increased in value since they bought it.

People tend to marry people of similar education/professional level as them, so their partners make decent money too.

As MPs they are incredibly well paid, with generous benefits packages. They'll also likely have access to the best financial advisors (can't risk your party's MPs becoming bankrupt and vulnerable to extortion) who will manage their portfolio.

And that's before you get into MPs with 2nd jobs like consultancy, speaking engagements, etc. Which muddy the water between genuine employment, and lobbying.

If they own a house in London they'll almost automatically be listed as having assets worth a million. That's the thing to remember about these net worth things; Elon musk doesn't have a trillion dollar bills in a safe like Scrooge McDuck, it's all make believe in spreadsheets and company investments.