Mid Norfolk MP George Freeman earning £330k a year
He's thought to be Norfolk's highest paid MP
Last updated 20th Aug 2024
A Norfolk MP who said he was forced to quit his ministerial role because of financial difficulties is now thought to be Norfolk’s highest paid.
George Freeman, Conservative MP for Mid Norfolk, earns £20,000 a month through additional employment, his register of interests has revealed.
Mr Freeman stepped down as science minister in November and said part of the reason for quitting was that he could not afford to pay his rising mortgage on a ministerial salary.
However, his financial struggles seem to have come to an end, as he is now raking in around £300,000 per year – and is believed to be the highest remunerated MP in the region.
Mr Freeman has a range of advisory roles at seven organisations including the Centre for Medicinal Cannabis, consultancy firm Henham Strategy, and Eastern Powerhouse – a group which aims to drive investment in the region.
According to his register of financial interests, his pay from this work totals £20,000 per month, which means he could be earning up to £331,346 per year – when combined with his MP’s salary of £91,346.
While several MPs in Norfolk have not registered any additional earnings, many have shares in various companies, meaning it is difficult to ascertain who really takes home the most money.
Mr Freeman, Mid Norfolk MP since 2010, revealed in a blog post earlier this year that he quit his role as a science minister in Rishi Sunak’s cabinet due to financial difficulties.
He wrote: “I was so exhausted, bust and depressed that I was starting to lose the irrepressible spirit of optimism, endeavour, teamwork and progress which are the fundamentals of human achievement.
“And because my mortgage rises this month from £800pcm to £2,000, which I simply couldn’t afford to pay on a ministerial salary.
“We’re in danger of making politics something only hedge funder donors, young spin doctors and failed trade unionists can afford to do.”
Government ministers are not permitted to take on second jobs and Mr Freeman would have been receiving an annual salary of around £118,300 while in this role.
The MP’s financial woes began during his divorce in 2017 when he was required to take out a large mortgage in order to support his family, which he has been paying off through financial advisory work.
What does George Freeman say?
Mr Freeman claims his current take-home pay is less than his register of interests suggests as he has not yet started some of these roles.
He said: “Many MPs have outside interests – as doctors, dentists, lawyers, farmers or directors of family businesses. Mine is helping UK start-up companies raise finance.
“I have spent my entire career working in science and technology and look forward to working with emerging companies and investors to help create the companies, jobs and investment that the UK – and Norfolk – so urgently needs.
“These roles will take up a fraction of the time I spent as a minister while also being an effective local MP – as a backbencher I have had more time both for the constituency, family and many charitable causes.”