The plans of outgoing prime ministers after leaving Number 10 can vary from remaining in politics or campaigning for causes to earning lucrative sums for speaking engagements. The two most recent former prime ministers – Boris Johnson and Theresa May – have remained in Parliament, however, others such as David Cameron and Sir Tony Blair have pursued careers outside of Westminster.
The options available to Liz Truss following her resignation on Thursday include public speaking - which has proved a popular and lucrative option for former prime ministers. She may also opt to link up with charities and think tanks.
Her future may also lie as a backbench MP. There are currently two former prime ministers – Theresa May and Boris Johnson – on the Conservative backbenches.
In addition, it remains to be seen if she will claim up to £115,000 a year available from a government fund for former prime ministers. Here is a closer look at what may lie ahead for the soon to be ex-PM:
After dinner speaking
Work as an after dinner speaker is a popular and lucrative option for former prime ministers. All living former prime ministers, with the exception of Boris Johnson, are available to book as speakers with the organisation Washington Speakers Bureau.
City A.M. reported in 2015 that Sir Tony Blair earns £270,000 per speech. Jeremy Lee Associates (JLA), which represents former political figures Alastair Campbell and William Hague, said the fees of both the communications strategist and the former home secretary are described on the JLA website as in the “A band”, which means they earn between £10,000 and £25,000 per speech, and former prime ministers could expect to earn similar sums.
Charities and think tanks
Liz Truss was deputy director of the think tank Reform prior to becoming a Conservative MP. She co-authored several reports in her time there, including The Value of Mathematics and A New Level on the education system.
Sir Tony Blair, the prime minister from 1997 to 2007, has founded the Tony Blair Institute for Global Change since leaving office. The purpose of this organisation is “to equip political leaders to build prosperous, open and inclusive societies”, according to its website.
He also worked as Special Envoy to the Quartet on the Middle East, an international organisation set up to mediate the Israeli-Palestinian peace process.
Backbench MP
Resigning as prime minister does not stop Ms Truss being a Member of Parliament. The fact that a backbench MP has served as prime minister can afford them a certain level of respect and influence.
Theresa May questioned then PM Boris Johnson in Parliament when the Sue Gray report was published. She told parliament the Gray report showed “No 10 Downing Street was not observing the regulations they had imposed on members of the public”.
Gordon Brown remained an MP for five years after losing the 2010 General Election, however, one of his most significant speeches after losing the premiership was away from Westminster. Mr Brown, on the eve of the Scottish Independence Referendum in 2016, gave an impassioned speech that called on Scotland to remain in the union.
He said: “Let’s keep our UK pension, let’s keep our UK pound, let’s keep our UK passport, let’s keep our UK welfare state.” Scotland eventually voted to remain part of the United Kingdom.
Public Duty Costs Allowance
All former prime ministers are entitled to a maximum of £115,000 a year from a government fund, called the Public Duty Cost Allowance. This is “to assist former prime ministers still active in public life”, according to the Cabinet Office.
Both Sir Tony Blair and Sir John Major claimed the full amount in 2020-21, with Gordon Brown receiving slightly less. This fund will now be available to Liz Truss, however, if she continues to be a Member of Parliament, her entitlement will be set against any other public money she receives.
