London's three top mayoral candidates published details of their income and tax payments yesterday but the row over their personal finances looked set to continue.
Boris Johnson revealed he had earned £1.27m in his first three years as current Mayor of London – having criticised the Labour candidate, former mayor Ken Livingstone, for channelling his earnings from media work into a private company he set up with his wife to reduce his tax bills.
Mr Livingstone stated that he had paid £113,861 tax on his £342,041 "total income" in the three years up to April 2011 – including £23,730 corporation tax on dividends from the company.
However, Mr Livingstone said he would only agree to "full disclosure" of further details – including his full household income and how much his wife, who serves as his office manager, earned from his company – if the other main candidates also revealed their partners' financial positions.
Mr Johnson disclosed that he had paid £519,276 in income tax and national insurance in the past three years on earnings of £416,765, £388,315 and £473,280 – the bulk of it from freelance work in the media.
In 2007/8 he paid £44,142 income tax and nothing in corporation tax but by 2010/11 those figures switched to £22,691 in income tax and £11,970 in corporation tax.
Meanwhile ex-senior Scotland Yard officer Mr Paddick, the Liberal Democrat candidate whose income is mainly a £63,000 police pension, earned £344,146 in three years to that date and paid £100,693 in income tax.
The figures were made public after they agreed to publish the details during a fractious TV debate on Wednesday's BBC Newsnight.Reuse content