CALL FOR AUSTERITY FROM A HIGH EARNER

The head of the International Monetary Fund, who has (rightfully) attacked Greeks for failing to pay their taxes enjoys a tax-free income of £350,000.

Christine Lagarde provoked a furious backlash after blaming Greece’ economic plight on citizens ‘who are trying to escape tax all the time’. Now it has been revealed that the divorced Frenchwoman, 56, earns a salary of £298,926 (£24,910 per month) which her contract states ‘shall be net of income taxes’.

Part of this is paid for by British taxpayers, as the UK contributes 4.5% of the IMF’s resources. The IMF also pays Lagarde a top-up tax-free sum of £53,490, designed to enable the Fund’s leader to maintain, in the interests of the Fund, a "scale of living appropriate to your position as managing director and to the Fund’s need for representation."

In addition, she is entitled to expenses for entertainment and travel and hotel costs for her and her partner when the IMF meets in Washington DC. Her five-year contract also entitles her to a pay increase every July.