• Germany's news in English
 
SPD candidate earned €1.25 million on the side
Photo: DPA

SPD candidate earned €1.25 million on the side

Published: 30 Oct 2012 08:55 GMT+01:00

The chancellor candidate earned a total of €1.25 million from 89 speaking engagements since he left office as Merkel's finance minister in 2009, the Bild newspaper revealed ahead of Tuesday's announcement.

He earned an average of €14,065 per speech, the paper said, with fees for individual speeches ranging from €1,000 to €25,000. Adjusted for a 48.5 percent tax rate, that left him with an average of €7,314 per speech.

In some cases, Steinbrück also donated the fee to social projects, including the Catholic charity "Tafel Monheim", the family counselling service "Pro Familia", and a jazz museum.

Steinbrück also gave 237 unpaid speeches during that period, at schools, the SPD's political foundation Friedrich-Ebert-Stiftung, and in some charities.

These fees come on top of his salary as an MP in the Bundestag which amounts to €7,960 a month plus expenses. As a former state secretary, former minister in two different states, former state premier of North Rhine-Westphalia, and former federal finance minister, he is also entitled to a number of different pensions, amounting to around €1,800 a month, pension experts estimate.

The disclosure of his exact income comes after a row erupted in parliament over his earnings, and a debate about how much MPs should be allowed to earn on the side.

The government coalition recently announced a reform in the bracketing structure by which MPs' incomes are revealed, but fell short of imposing full disclosure.

The Local/bk

The Local (news@thelocal.de)

Your comments about this article

10:06 October 30, 2012 by lucksi
Good thing he doesn't have to say who bribed, erm sorry, sponsored, him with those lucrative speaking opportunities.

And sure, being on some boards of directors with several companies and getting paid 5 figure sums for speeches is not influencing any of our politicians. Who would ever dare to think that? Not me of course.
11:08 October 30, 2012 by raandy
He did pay taxes according to the article.He donated some earning to charity and 230+ free speeches and he appears to be transparent about what his income was.

Considering what top exces get paid ,his income from speeches is not that decadent.

Given the same opportunity to generate this kind of income, most would do the same.
11:40 October 30, 2012 by gorongoza
Compare this story with those of tax dodgers who sent their loot to Switzerland and the other little state.
16:31 October 30, 2012 by neunElf
A true champagne socialist!
Today's headlines
Amazon pledge: Xmas pressies will arrive
Striking Amazon workers outside a distribution centre in Leipzig on December 8th. Photo: DPA

Amazon pledge: Xmas pressies will arrive

Online retailer Amazon said on Monday that walkouts at distribution centres across the country wouldn't affect Christmas orders as the strike spread across Europe. READ  

Armed heist at Berlin's top department store
The aftermath of the raid at Berlin's luxury department store Photo: DPA

Armed heist at Berlin's top department store

Stunned shoppers looked on in horror as masked robbers made a daylight raid at Germany's most exclusive department store on the busiest shopping day before Christmas. READ  

Security tests find holes at Frankfurt airport
Security checks at Frankfurt airport in July 2014. Photo: DPA

Security tests find holes at Frankfurt airport

Weapons and dangerous objects were successfully smuggled through security checks 50 percent of the time at Frankfurt airport, in a probe by European Commission inspectors, it emerged on Sunday. READ  

Breakfast stumble costs Berlin giraffe her life
Kibaya before her fatal fall Photo: DPA

Breakfast stumble costs Berlin giraffe her life

One of Berlin Zoo’s most popular attractions has had to be put down, after tearing a muscle in her leg. READ  

Xenophobia thrives in shadow of Berlin towers
A demo in Marzahn-Hellersdorf. File photo: DPA

Xenophobia thrives in shadow of Berlin towers

There's little to break the monotony of communist-era apartment blocks stretching across Marzahn-Hellersdorf, an east Berlin satellite district that has gained national notoriety for a spate of anti-foreigner protests. READ  

Ecuador returns German money in oil valley spat
Photo: DPA

Ecuador returns German money in oil valley spat

Ecuador's President Rafael Correa said Saturday that Quito would be giving back about $8.5 million donated by Germany last year, in an environmental row. READ  

German bank sues Ecclestone for €345mn
Photo: DPA

German bank sues Ecclestone for €345mn

German bank BayernLB is seeking €345 million ($423 million) in a lawsuit against Formula One magnate Bernie Ecclestone over the 2006 sale of the sport's rights, according to a report. READ  

Löw aims for Euro 2016 with new-look Germany
Joachim Löw holding the World Cup trophy. File photo: DPA

Löw aims for Euro 2016 with new-look Germany

World Cup winners Germany have suffered something of a hangover since their triumph in Brazil, but coach Joachim Löw is hoping a new-look side can go on to claim more glory at Euro 2016. READ  

T-Mobile to pay $90 mn over US fraud charges
Photo: DPA

T-Mobile to pay $90 mn over US fraud charges

German mobile phone company T-Mobile has agreed to pay at least $90 million to settle US government claims that it bilked customers with bogus charges, US regulators said Friday. READ  

Ethics Council rejects assisted suicide law
Photo: DPA

Ethics Council rejects assisted suicide law

The German Ethics Council said the law should not be changed to permit assisted suicide in a paper published on Friday. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
Top 12 German idioms
Willy Brandt at his inauguration in 1972. Photo: DPA
National
Willy Brandt: the man, the chancellor... the airport?
Dresden skyline and river by night. Photo: DPA
Politics
What does Dresden have against Muslims?
Sponsored Article
Why are these International Baccalaureate students cheering?
Germany's national football team lifts the World Cup trophy
Gallery
Germany's most-Googled words of 2014
National
Why has The Local got a new logo?
Photo: DPA
National
This German was abducted and tortured by the CIA
Culture
10 top tips for partying in Germany
Sponsored Article
Top ten gifts for an expat Christmas
Photo: DPA
Technology
What does the Chancellor see as the future of the internet?
Photo: DPA
Culture
Stuff your face with these festive German cookies
Photo: DPA
Culture
What do beer, breakfast cereal and dildos have in common?
Culture
The Local's guide to German Christmas markets
Sponsored Article
Top five quirky Christmas jumpers
Photo: DPA
Culture
Get ready for Christmas like a German. We tell you how.
Photo: DPA
Munich
She did what with her dead mother?
Photo: DPA
National
Germany still paying for crisis fall out
Photo: DPA
Culture
Saxon wurst is the worst, Christmas market declares.
Photo: DPA
Politics
Can 'sorry' ever be enough for the Linke?
Photo: DPA
Berlin
The Local's series on 25 years since the fall of the Berlin Wall
Shutterstock
Sponsored Article
Offer: Unlimited airmiles through December 19th
Photo: DPA
Gallery
See how Berlin has changed in 22 photos
Photo: DPA
Business & Money
JobTalk: All you need to know about working in Germany
National
Share news tips with The Local Germany
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

3,121
jobs available
The Local Spain is hiring!
The Local is seeking a new editor for our site in Spain to join our growing team of internationally-minded, driven, ambitious and clued-up journalists.
Details and how to apply
Toytown Germany
Germany's English-speaking crowd