UK Prime Minister Rishi Sunak is being accused of trying to 'bury bad news' by choosing to release his tax returns while all the focus is onBoris Johnson’s Partygate hearing.
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Rishi Sunak releases tax returns
On Wednesday 22 March, Downing Street released a summary of Sunak's taxable income, capital gains, and tax paid, as reported by The Telegraph.
The statement, which was three pages long, showed that in the past three tax years, he earned just under £4.4m in capital gains and dividends plus his ministerial salary over the same period of £410,951. In total, Sunak received an income of £4,766,962.
It also showed that he paid UK tax of £1 million, which is equivalent to 22%. According to The Telegraph, experts said that rate would typically be paid by people on a £70,000-a-year salary.
Rishi Sunak pays an effective rate of 22% in tax while earning £1.97M last year.
— Best for Britain (@BestForBritain) March 23, 2023
Least he has the power to fix it 👀
pic.twitter.com/uvLwi1TCzZ
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Rishi Sunak facing backlash
Sunak’s personal tax returns were published online at the same time former Prime Minister Boris Johnson was being questioned by MPs over allegations he misled parliament in regards to parties held during Covid-19 lockdowns in Downing Street.
This has sparked accusations that Sunak is trying to 'bury bad news', particularly as he knows his wealth is viewed as problematic during the current cost-of-living crisis in the UK.
Labour deputy leader Angela Rayner wrote on Twitter:
Wonder why he's chosen today?
Green MP Caroline Lucas tweeted:
Nice try, @RishiSunak – nakedly attempting to bury your tax return under Boris Johnson’s Partygate Inquiry – but we’re not going to miss it. https://t.co/v7Q6Toj8VL
— Caroline Lucas (@CarolineLucas) March 22, 2023
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Kevin Maguire, a journalist for The Mirror, wrote:
Sunak's £155,000 for being an MP and PM is pin money to him when his income was £1.9m in 2021-22. He used Johnson's grilling as a good day to bury bad news, sneaking out the tax return during the Psrtygate hearing. Must be employing a Jo Moore in No 10
While Robert Palmer tweeted:
Rishi Sunak’s tax rate last year was 22%
— Robert Palmer (@robertnpalmer) March 22, 2023
That’s the same tax rate as a nurse
Time to tax the super-wealthy properly https://t.co/niFJJUb0HI
Read more: Rishi Sunak said to be wealthier than King Charles: How rich is UK's new Prime Minister?
Sources used:
The Telegraph: 'Rishi Sunak earned nearly £5m in three years - but paid tax at just 22pc, his recently released accounts show'