Tory ministers in line for £1million in taxpayer-funded payouts if they lose General Election

Ousted Tory ministers will be in line for more than £1million in taxpayer-funded payouts if the party loses the General Election.

Under the current rules, every Government minister under the age of 65 is entitled to a quarter of their annual salary in severance when they lose their jobs. Analysis shows taxpayers would be left with a whopping £1.03million bill for pay-offs for the 103 Tory ministers who are eligible.

Potential payouts range from £26,090 for Foreign Secretary David Cameron, as a Secretary of State serving in the House of Lords, to smaller payouts of £4,479 for the 13 members of the Government whips' office.

Lord Cameron and Rishi Sunak are among those would could be eligible for bumper payouts

Other Cabinet ministers entitled to a £16,876 severance payment will include Deputy Prime Minister Oliver Dowden, Chancellor Jeremy Hunt, Home Secretary James Cleverly, Levelling-Up Secretary Michael Gove, Commons Leader Penny Mordaunt, Business Secretary Kemi Badenoch, and Defence Secretary Grant Shapps.

Mega-rich Rishi Sunak will be entitled to a three-month severance payment of £18,860, on top of the £115,000 annual allowance he can claim as a former Prime Minister.

Some ministers who are also in danger of losing their seats could be in line for a double payout, receiving severance both as an outgoing minister and as a former MP. Under new rules introduced in 2023, each MP who loses their seat at the election will receive the equivalent of four months salary to assist with the costs of 'winding up' their office.

The payment is worth around £20,000 after tax, while MPs who have been in post for more than two years will also receive a 'loss of office' payment, worth an average of £5,250 in 2019. Millionaires like Mr Hunt or Mr Shapps, who are both battling for survival, could receive a severance windfall of at least £40,000 if they lose their jobs as ministers and MPs on polling day.

It comes after nearly £1 million was paid out to quitting ministers during Boris Johnson and Liz Truss ’s chaotic administrations. The final bill for severance payouts for ministers during the turmoil of 2022 was £933,086, according to analysis earlier this year.

Some of those who accepted cash under the "loss of office" rules, re-joined the Government months later as the Tories ran through three leaders in a matter of months.