£69,000 pay-off for Ken Livingstone

Ken Livingstone could receive £69,000 within weeks after losing the election to Boris Johnson.

The ousted mayor is entitled to half his £137,579 salary under Treasury rules announced in March.

Campaigners reacted with fury after it emerged he gets at least £30,000 of the "golden goodbye" tax free.

Matthew Elliot, of the Taxpayers' Alliance, said: "There is no reason why Ken Livingstone should receive a penny from taxpayers. He earned a generous salary as Mayor, knew the date he was up for re-election, so should have planned a financial buffer in case he lost."

The new system of payments for loss of office is being introduced following the passing of the Greater London Authority Act 2007. This brings the GLA into line with MPs, who receive 50 per cent of their salaries, and Members of the Scottish Parliament.

The London Assembly voted for the changes in March after Mr Livingstone said financial security should be offered to people who have given up a job to enter politics and then find themselves ousted by the electorate.

Two Liberal Democrat Assembly members are also entitled to payoffs of around £25,000 - half their salary.

The cash will top up Mr Livingstone's earning potential as an after-dinner speaker. He joked during the campaign: "If I lost there would be a vacancy on the after-dinner speaking circuit so we [Boris Johnson and I] would really just be swapping jobs."