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| Version 0 | Version 1 |
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| Mandelson in line for £1m pay-out | Mandelson in line for £1m pay-out |
| (about 7 hours later) | |
| Business Secretary Peter Mandelson is in line for a pay-out of up to £1m after leaving the European Commission to rejoin the cabinet. | |
| He will continue to receive taxpayer-funded EU pay worth £234,000 over three years - in addition to his annual ministerial salary of £104,386. | He will continue to receive taxpayer-funded EU pay worth £234,000 over three years - in addition to his annual ministerial salary of £104,386. |
| The Conservatives spokesman on Europe said the details of the "golden goodbye" would anger UK voters. | The Conservatives spokesman on Europe said the details of the "golden goodbye" would anger UK voters. |
| Mr Mandelson will be ennobled on Monday to allow him to return to the cabinet. | |
| He will take his seat in the House of Lords as Lord Mandelson of Foy and Hartlepool. | He will take his seat in the House of Lords as Lord Mandelson of Foy and Hartlepool. |
| Foy is a village in Herefordshire where the business secretary took holidays and Hartlepool used to be his Commons constituency. | Foy is a village in Herefordshire where the business secretary took holidays and Hartlepool used to be his Commons constituency. |
| Pension scheme | Pension scheme |
| The business secretary is entitled to the EU compensation package despite giving up his post as trade commissioner voluntarily after four years. | The business secretary is entitled to the EU compensation package despite giving up his post as trade commissioner voluntarily after four years. |
| Under EU rules, Mr Mandelson will be eligible for around £78,000 in "transitionary payments" annually for the next three years. | Under EU rules, Mr Mandelson will be eligible for around £78,000 in "transitionary payments" annually for the next three years. |
| Not only did Gordon Brown recall Peter Mandelson to shore up his own position, but it adds insult to injury to know taxpayers will have to pay extra for the privilege Mark Francois, Conservative Europe spokesman | Not only did Gordon Brown recall Peter Mandelson to shore up his own position, but it adds insult to injury to know taxpayers will have to pay extra for the privilege Mark Francois, Conservative Europe spokesman |
| The money - £234,000 in total - will also be subject to preferential tax rates devised for EU officials. | The money - £234,000 in total - will also be subject to preferential tax rates devised for EU officials. |
| The top-up ensures his income in his new job is the same as his £182,500 salary as a commissioner. | The top-up ensures his income in his new job is the same as his £182,500 salary as a commissioner. |
| In addition to the salary boost, Mr Mandelson's four-year stint in Brussels entitles him to a pension. | In addition to the salary boost, Mr Mandelson's four-year stint in Brussels entitles him to a pension. |
| When he reaches the age of 65, Mr Mandelson will receive a pension, starting at £31,000 and then rising in line with the cost of living. | When he reaches the age of 65, Mr Mandelson will receive a pension, starting at £31,000 and then rising in line with the cost of living. |
| A private sector worker who wanted to ensure a similar income in retirement would have to build a pension fund worth more than £700,000. | A private sector worker who wanted to ensure a similar income in retirement would have to build a pension fund worth more than £700,000. |
| As he relocates from Brussels to London, Mr Mandelson is also due a one-off resettlement grant of £15,000. | As he relocates from Brussels to London, Mr Mandelson is also due a one-off resettlement grant of £15,000. |
| Mark Francois, the Conservative spokesman on Europe, said the details of the ex-commissioner's pay-off would annoy UK voters. | Mark Francois, the Conservative spokesman on Europe, said the details of the ex-commissioner's pay-off would annoy UK voters. |
| "Not only did Gordon Brown recall Peter Mandelson to shore up his own position, but it adds insult to injury to know taxpayers will have to pay extra for the privilege," he said. | "Not only did Gordon Brown recall Peter Mandelson to shore up his own position, but it adds insult to injury to know taxpayers will have to pay extra for the privilege," he said. |