Liz Truss to get ‘Rs 1 crore payout’ every year after serving as UK PM for 45 days!

Liz Truss is entitled to an annual dividend of £115,000 (about Rs 1,06,36,463 at the current exchange rates) for life even though she was the UK Prime Minister for only 45 days. The shortest-serving British prime minister in history, Truss’ resignation from her position on Thursday marked the end of her time in office.

WHERE WILL THE MONEY COME FROM?
The Independent claims that the lifetime payment to Truss will be funded by public dollars. The Public Duty Costs Allowance (PDCA), which was established to assist former prime ministers in maintaining an active public life, is the source of the funds that the departing Conservative leader can claim.

Payments are provided solely ‘to meet the real expense of continuing to perform public tasks,’ under the government’s directive. Following the departure of Margaret Thatcher in 1990, the allowance was set up. Her predecessor, John Major, made the announcement in March 1991. Since the program’s inception, a number of prime ministers have requested millions in reimbursement, citing ‘their exceptional position in public life’ as the reason for their office and secretarial expenses.

Truss will join the other six previous prime ministers who are still alive and eligible to receive payments under the allowance programme. This implies that taxpayers must contribute more than £800,000 annually. Since Truss implemented her now-reversed ‘mini-budget ‘approach, Britain is presently on the verge of an economic calamity. The markets went into a frenzy as a result of the £45 billion tax reduction plan, which also spurred a lot of selling. Following the announcement of the programme, the value of the pound versus the dollar also plunged to a historic low.