• Germany's news in English
 
app_header_v3

SPD candidate earned €1.25 million on the side

The Local · 30 Oct 2012, 08:55

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.

Story continues below…

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
Lion shot dead at Leipzig Zoo after breaking out of cage
Motshegetsi (l) und Majo. Photo: DPA

A young male lion was shot dead at Leipzig Zoo on Thursday afternoon after he broke out of his enclosure.

EU takes Germany to court for 'discriminatory' foreigner toll
A sign that reads "toll" along the Autobahn by Rostock. Photo: DPA.

The European Commission on Thursday said it is taking Germany to the EU Court of Justice because of the country's plan to impose a road toll that would mainly charge foreign drivers.

After 3-year trial, suspected neo-Nazi terrorist speaks out
Beate Zschäpe. Photo: DPA

Beate Zschäpe, the only living member of an underground neo-Nazi cell accused of murdering ten people, has spoken to the court in Munich after three years of silence.

Green party wants only e-cars on Autobahn by 2030
Photo: DPA.

The environmentalist Green party has an ambitious plan for German cars to be petrol- and diesel-free within the next 15 years.

Commerzbank to make one in five staff redundant by 2020
Photo: DPA

Germany's second largest lender Commerzbank said on Thursday it plans to cut 9,600 jobs by 2020 and withhold dividends to pay for a €1.1 billion restructuring.

Germany's favourite smoker wins battle against eviction
Photo: DPA

How a pensioner with a serious smoking habit won a years-long fight for his right to keep his home - and his favourite pastime.

Thousands evacuated after WWII bomb found in Cologne
File photo of a Second World War bomb: DPA

Several thousands people were being evacuated from a district of Cologne just north of the old town on Thursday morning, after a Second World War bomb was found in a parking lot.

Kidnapped German journalist and her baby freed in Syria
File photo of a Syrian soldier: SANA/DPA.

A German woman who was kidnapped in Syria last year while she was pregnant has been freed along with her baby, the German Foreign Office said on Wednesday.

Air Berlin to cut 1,200 jobs and halve airline fleet
Photo: DPA.

Struggling Air Berlin, Germany's second-largest airline, announced on Wednesday a major restructuring plan that shrinks its fleet and cuts 1,200 jobs.

Germany's 10 most Instagram-able places
Photo: Thomas Wolf/Wikimedia Commons.

From stunning chalk-white cliffs to fairy tale castles, Germany has some breathtaking sights to see, perfect for social media.

Sponsored Article
The Inner Circle: the secret to dating in Berlin
Germany's 10 most Instagram-able places
Sponsored Article
Why Jordan is the ‘Different’ East
Lifestyle
15 pics that prove Germany is absolutely enchanting in autumn
Lifestyle
10 German films you have to watch before you die
Lifestyle
6 things about Munich that’ll stay with you forever
Sponsored Article
Retiring abroad: ensuring your health is covered
Lifestyle
10 pieces of German slang you'll never learn in class
National
Seven great reasons to stay in Germany this September
National
Ouch! Naked swimmer hospitalized after angler hooks his penis
National
Six reasons why Berlin is now known as 'the failed city'
Sponsored Article
Life in Jordan: 'Undiscovered treasure'
National
15 tell-tale signs you’ll never quite master German
Culture
7 American habits that make Germans very, very uncomfortable
Sponsored Article
The Inner Circle: the secret to dating in Berlin
Rhineland
Story of a fugitive cow who outwitted police for weeks before capture
Culture
Eleven famous Germans with surnames that'll make your sides split
Lifestyle
The best ways to get a visa as an American in Germany
Gallery
Germany's 17 Olympic gold medals in pictures
14 facts you never knew about the Brandenburg Gate
Society
Ten times Germans proved they really, really love beer
National
Six things you need to know when moving to Germany
Travel
These 10 little-known German towns are a must see
International
German scientists prove birds can sleep while flying
Technology
London v. Berlin: Which is better for startups?
Lifestyle
13 mortifying mistakes German learners always make
6,582
jobs available
Toytown Germany
Germany's English-speaking crowd