Tony Blair: Why I need £5m every year just to get by
By Jason Groves and Sam Greenhill
Last updated at 12:54 AM on 31st March 2010
Hefty sum: Tony Blair, who intervened in the election campaign yesterday, is thought to have a wage bill of over £5m
Tony Blair has told friends he needs to earn at least £5million a year just to break even.
The former prime minister has been heavily criticised for cashing in on his contacts for personal gain and is thought to have made around £20million since leaving office.
But last night his former election agent John Burton claimed Mr Blair needed the astonishing annual income – and possibly much more – to pay spiralling wage bills at his growing list of companies and charities.
The revelation about his finances came as the former premier returned to the political fray with a lukewarm televised endorsement of Gordon Brown.
Mr Burton, one of Mr Blair’s most loyal political friends, said: ‘What I asked him was, you know he gets this criticism about what he earns. I said how many people do you employ? And he said 130.
‘I mean it was 25 about two years ago and he said to me I have got to earn £5million a year to pay the wages, so God knows what he has got to earn now to pay the wages.’
Mr Burton’s extraordinary claims mean average wages could be as high as £200,000 a year. And his figures suggest Mr Blair now needs to make £20million a year.
The former prime minister was making a controversial intervention in the election campaign yesterday as he addressed the Labour Club in his old constituency.
It followed a warning from a former defence minister that his appearance could trigger a public backlash against Labour from those angry over the Iraq War as well as Mr Blair’s business dealings.
Sporting a bizarre orange tan, Mr Blair spoke in support of his long-time rival Gordon Brown and attacked the ‘ vacuous’ Tories – but stopped short of personally criticising David Cameron.
The Tories were relaxed about the appearance, with Mr Cameron taking a dig at the former premier’s lecture circuit earnings, joking: ‘It is nice to see him making a speech that no one is paying for.’
Security was tight as Iraq War protesters demonstrated outside the Trimdon Labour Club, in the Sedgefield constituency in County Durham.
More…Labour’s elderly care plans called a ‘shambles’ after small print reveals they leave out lodging costs
Look who’s back! Tony Blair savages the Tories and hails Brown’s ‘boldness’ as he returns to election trail
QUENTIN LETTS on the return of the messiah: He glowed caramel, like a ripening pumpkin
PETER OBORNE: Spare us election sermons from the man who corrupted and degraded British politics
Alistair Darling admits Labour’s National Insurance rise WILL hit jobs
Boost for Darling as Britain emerges from recession stronger than expected
We’ll ALL cut more than Maggie: Darling, Osborne and Cable go head to head in TV’s Battle of the Chancellors
Only a handful of local journalists were allowed to join a hand-picked audience of Labour activists, and they were banned from asking questions.
Labour strategists believe Mr Blair, who made only a passing reference to Iraq yesterday, could help reassure floating voters that New Labour has not lost its way.
He is expected to make around half a dozen interventions during the election campaign.
But many senior Labour figures fear his involvement could harm the party. Chief among critics was former defence minister Peter Kilfoyle, who warned that Mr Blair was now a ‘negative factor’.
He said: ‘He evokes a strong antagonism, particularly because of the Iraq War, but not only that.
‘Also the kind of things going on with allegedly Blairite former ministers and their apparently venal approach to life. He epitomises everything people think is wrong about New Labour.
‘It is a mistake by the so-called strategists. It may seem a good idea to them, but to many people at the grassroots level it is not.’
But Labour’s election coordinator Douglas Alexander insisted the former prime minister was still ‘one of our two biggest assets’.
However, Mr Blair appeared to offer only a lukewarm endorsement of Mr Brown. He said Labour had a ‘solid’ programme for a fourth term in office and praised Mr Brown’s handling of the economic crisis.
But he had little to say about the Prime Minister’s personal qualities.
Instead he focused on attacking the Tories. He contrasted Mr Brown’s ‘certain leadership’ with the ‘confusion at the heart of Conservative policy-making’.
And he described the Tories’ ‘it’s time for a change’ campaign as ‘the most vacuous slogan in politics’.
Mr Blair also tried to suggest Mr Brown had a better grasp of the future than Mr Cameron. ‘The central point of the election (is) who “gets” the future? This is not a matter of age or personality. It is a matter of comprehension,’ he said.
Read more: http://www.dailymail.co.uk/news/article-1262405/Tony-Blair-Why-I-need-5m-year-just-by.html#ixzz0jk2jD5l3
Will the Queen stop a second election? Brown could cling on as premier even if Tories win
By James Chapman
Last updated at 8:53 AM on 31st March 2010
Comments (45)
The Queen’s involvement is allowed under ancient conventions NOT AFTER SHE BROKE HER OATH- IT ISN’T!!
The Queen could step in and block a second General Election this year in the event of a hung Parliament, to prevent Britain spiralling into an economic crisis.
Her action would force parties to work towards a coalition government – rather than having to fight another election campaign.
The Queen’s potential involvement, which is allowed under ancient conventions, has emerged in extraordinary behind-the-scenes preparations in Whitehall.
There are serious fears that Britain faces its first hung Parliament since the 1970s.
Economists say a prolonged period of turmoil after an unclear election result could result in a devastating collapse in confidence in Britain’s ability to repay its vast national debt.
To prepare, the Civil Service has drawn up a blueprint for action.
For the first time they will give opposition parties access to advice from officials in an attempt to speed up a coalition deal.
The period between polling day and the point at which a minority administration would face a potentially terminal vote of no confidence is to be extended by six days, giving more time for a power-sharing agreement.
And conventions allow the Sovereign to decline a request from a prime minister heading a minority government for a dissolution of Parliament and a quick second election.
If the Queen is advised that a general election would be ‘detrimental to the national economy’, she can refuse to allow one.
More…PETER OBORNE: Spare us election sermons from the man who corrupted and degraded British politics
Tony Blair: Why I need £5m every year just to get by
MPs want legal aid for expenses fight: Court case expected to cost public £3m
Darling admits NI rise WILL hit jobs
‘Asbo queen’ Louise Casey given £100,000 job to support victims
‘The monarch is not bound to accept such a request, especially when such a request is made soon after a previous dissolution,’ says guidance drawn up by Cabinet Secretary Sir Gus O’Donnell.
Because of the bias against them in the electoral system, the Conservatives need a poll lead of around ten points to be sure of defeating Labour with an overall majority.
Enlarge Polls pointing to a narrower result have prompted mandarins to produce the first set of guidelines for senior civil servants on what happens in the event of a hung Parliament.
Even if the Tories are the largest party, but fail to secure a Commons majority, Gordon Brown will remain Prime Minister until he resigns, Whitehall sources say.
Officials who have held detailed discussions with the Queen’s private secretary, Christopher Geidt, say it will be up to Mr Brown to decide when to resign.
He will have the right to make the first attempt to soldier on as head of a minority government by coming to an arrangement with smaller parties, including the Liberal Democrats.
Ted Heath remained in office over the weekend after the general election on February 28, 1974, despite winning four seats fewer than Labour, as he made unsuccessful attempts to form a coalition with the Liberals.
Mr Brown would be barred from making major policy announcements until a stable administration could be formed.
If he fails to reach an agreement with smaller parties, David Cameron would then be allowed to make similar overtures to the Liberal Democrats and others to try to form a viable minority government.
Parliament need not reconvene for as long as 18 days following the general election if there is no clear winner, it was also reported today.
Only after almost three weeks would MPs have to gather at Westminster for a motion of no confidence from the Conservatives, The Guardian said.
Mr Brown could request a second dissolution of Parliament if he is unable to form a workable coalition, but the Queen is not obliged to grant it, especially when the request is made soon after the election.
She would ‘normally wish the parties to ascertain that there was no potential government that could command the confidence of the House of Commons’ before granting a second dissolution and triggering a new poll.
It is understood she would take into account the national interest and the prospect of a second election producing a clear-cut result.
At more than 12 per cent of national income, the UK’s deficit is on a par with that of Greece, which has been plunged into a deep financial crisis and social unrest.
A similar loss of confidence in Britain, experts fear, would trigger a run on the pound, drive up interest rates and undermine the recovery.
In the worst-case scenario, our gold-standard AAA credit rating on the international markets would be downgraded, massively increasing the cost of financing our debt.
Read more: http://www.dailymail.co.uk/news/article-1262424/Gordon-Brown-remain-PM-Queen-blocks-second-General-Election.html#ixzz0jk3UCu72
Someone tell the North not to vote Liebour. LBC Is London Radio- What i hear daily- are foreigners wailing on about how good Brownski and Labour are- thats the South East- not the NORTH!
- Me, UK, 31/3/2010 09:12
A hung parliament is the worst thing that could happen to UK plc! What I don’t understand is the polls! Surely there cannot be 31% of those polled that still want to vote back in this lame duck of a PM who has ran our great country into the ground! Wise up people! It’s time for CHANGE! David Cameron is offering us that change, we need to accept it and allow the country to move on from 13 years of socialist self-destruct mode!
That is all!
- Thud Hardbutt, Living in hope!, 31/3/2010 09:09
I don`t know much about swinging to the left swinging to the right, it is all rubbish, because what matters to me and everyony else in this country. Is local services, bins emptied,road gritting,pot holes filled in,easy access to a GP and Hospital,goods schools and criminals locked up and not let out.
All this talk about a hung parliment must mean that the policies of Labour and Conservatives are so alike that they are no longer two seperate parties, they are one party with two people fighting to be leader.
- Tony, Hornsea, 31/3/2010 09:02
On the day of reckoning I think it is almost certain that the proletariat’s vote will swing to the Conservatives. Who else have they got to vote for..?!
In reality it is all a bit of a farce because we all know nothing would significantly change whatever party you have. It is a proliferation of outside influence, self interest and inside dealings by non elected faceless individuals that run the country not elected governments.
Personally, I think it is time our Monarchy stood up, came back to life and got the country back on its feet.
- Stephen Griggs, Nijmegen, Netherlands, 31/3/2010 09:00
Someone should remind her Majesty that its labour that have and are floating ideas to get rid of her and replace her with a president.
Frankly it scares me as it should others that labour have trawled the statute book to find this. It shows how desperate GB is to cling to power. A vote for labour is not a vote for the democratic labour party I used to vote for but one for an autocratic party. There is a fine line between strong leadship and dictatorship one which all the signs show is about to be crossed.
It amusses me that when labour lost the election mid 90′s Prescott was blubbering about how unfair it was that a party with fewer votes from the public could be in power. Electoral promisse from Blair was that this would be changed so what have they done. Changed boundaries so that voting is in their favour, done nothing about the voting system and are looking for ways to stay even though they are likely to have fewer votes.
Bad signs there folks, vote for them at your peril
- the_old_cynic, disillusionedville, 31/3/2010 08:58
HER Majesty my arse- SHE’S A TRAITOR!!
http://www.dailymail.co.uk/news/article-1262424/Gordon-Brown-remain-PM-Queen-blocks-second-General-Election.html
THE DEBT BUBBLE HAS TO BURST
POLILIARS LIE…INSTEAD OF TELLING IT HOW IT IS!
With the weakness in the private sector likely to last several years, the government can’t be the solution. Instead, he argues, it either is, or will become part of the problem as governments are forced to implement austerity budgets (as is happening now with Greece, and will happen in the United Kingdom within a few months, and then will happen in the United States later in the year.)
Karen Maley
The debt bubble has to burst
This week is the one-year anniversary of the historic stock market rally which has seen US shares climb by almost 70 per cent – and we’re getting set to celebrate in style.
Most global markets are coming close to testing their January highs, the oil price is back above $US82 a barrel, and the carry trade – where traders borrow in low-interest rate currencies such as the US dollar and the yen – to invest in riskier, higher yielding assets – is roaring along.
After all, what’s to worry about? Governments across the world are continuing to run massive budget deficits and interest rates are close to zero. The markets aren’t worried about the massive explosion in government debt, because they figure it’ll just mean that governments will have to keep interest rates at historic lows while they continue to pour liquidity into the system.
Governments aren’t going to let their own debt bubbles implode, now, are they?
But while the markets continue to party, one dark thought presents itself. What happens if someone looks outside and sees that the real US economy is still in deep trouble? It is plagued by high unemployment, continuing weakness in the housing market, and faces mounting problems in commercial real estate that threaten to further destabilise the banking system.
What happens when the penny drops that massive government spending packages, combined with unprecedented money printing by central banks, have not produced a sustainable economic recovery?
As RBS strategist Bob Janjuah points out in his latest newsletter, the “gap between the fantasy in markets…versus the reality of the real economy/private sector, is already worryingly large, but risks becoming dangerously large.” Once again, markets are mispricing risk. In their frantic pursuit of high returns, investors are oblivious to the true risks they’re taking.
Janjuah says that there hasn’t been any sustainable recovery in private sector demand, and there won’t be for some years to come. Furthermore, there is nothing that can be done about it. Major economies can not generate growth by devaluing their currencies and trying to export their way out of trouble, because this is a strategy that everyone is using. All the big economies are trying to devalue and every country is looking to export. The problem is that there’s no obvious candidate to buy all these exports.
Janjuah also takes aim at those who believe that the massive build-up in government debt isn’t a problem because governments can simply erode the value of the debt through higher inflation. This strategy, he says, only works when inflation is unanticipated. When the market is expecting higher inflation, it pre-emptively prices in this risk of inflation in the form of higher interest rates. And already half the market is expecting to see governments try to inflate away their debts.
The other massive delusion that is buoying markets is that governments can keep pumping/printing/borrowing for long enough to compensate for the slump in demand from the private sector as it cuts back spending and tries to pay back debt. According to Janjuah, the time limits on this strategy are drawing nigh. “Those limits are pretty much already with us (Greece), or are soon to be with us, give or take a few months (in the United Kingdom), or at best, give or take a few quarters (in the case of the United States).”
With the weakness in the private sector likely to last several years, the government can’t be the solution. Instead, he argues, it either is, or will become part of the problem as governments are forced to implement austerity budgets (as is happening now with Greece, and will happen in the United Kingdom within a few months, and then will happen in the United States later in the year.)
The conclusion is inevitable; the bubble must burst. And Janjuah fervently hopes that that this happens sooner, rather than later. “The longer we are forced to wait, the bigger the bubble will be and the more horribly damaging the bursting process will be. And if we are forced to wait and the bubble gets anywhere like the one that went pop in late 2007 I have zero idea who will credibly be able to bail us all out the next time round. Certainly not our governments.”
http://www.businessspectator.com.au/bs.nsf/Article/The-double-bubble-has-to-burst-pd20100309-3CRVQ?OpenDocument