Liz Truss, UK PM who resigned after 45 days, is set to receive 1 crore pension

Liz Truss, UK PM who resigned after 45 days, is set to receive 1 crore pension

Note that she would be entitled to this massive pension for the rest of her life -- a pension that is three times that of an average full-time salary in the UK

FPJ Web DeskUpdated: Saturday, October 22, 2022, 04:52 PM IST
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Britain's Prime Minister Liz Truss laughs during her speech at the Conservative Party conference at the ICC in Birmingham, England, on October 5 | AP

British Prime Minister Liz Truss announced her resignation on October 20, after a mere 45 days in office.

Despite her short time, the soon-to-be-former PM is entitled to a  £115,000 pension - that is roughly Rs 1.073 crore.

This is due to a mechanism called the Public Duty Costs Allowance, which was introduced in order to to meet the cost of continuing public duties after someone leaves No. 10, Downing Street - the official residence of British Prime Ministers.

In order to be eligible for a pension, one only needs to have been Prime Minister, thus making Truss eligible, even though she announced her resignation within six and a half weeks of taking office.

For a Prime Minister who preached about frugality and reducing spending, it's not a very good look.

Note that she would be entitled to this massive pension for the rest of her life -- a pension that is three times that of an average full-time salary in the UK.

Predictably, this has drawn criticism and derision from Truss' political opponents, who have called for her to be refused the payment because of what they see as her central role in Britain’s current political and economic turmoil.

Truss won the July 2022 Conservative Party leadership election following Johnson's resignation amid a government crisis. She was appointed prime minister by Queen Elizabeth II two days before the queen's death, amid an ongoing cost of living crisis and an energy supply crisis.

Her government implemented an Energy Price Guarantee limiting energy prices for households, businesses and public sector organisations. Her government announced large-scale borrowing and various tax cuts in a mini-budget, which led to financial instability, was widely criticised and was largely reversed.

Truss becomes only the sixth Prime Minister to receive this allowance, which was enacted in 1991 by former Prime Minister John Major following Margaret Thatcher's resignation, according to the UK's government.

John Major, Tony Blair, Gordon Brown, David Cameron and Theresa May have all claimed at least part of the allowance. However, it is not yet known whether former PM Boris Johnson has received it, as such figures are yet to be made public.

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