Arlene Foster was chief of the Democratic Unionist Get together from 2015-2021 and, at 39, turned the youngest and first feminine Northern Eire First Minister in 2016, a put up she held till 2021.
She now sits within the Home of Lords as Baroness Foster of Aghadrumsee.
The 54-year-old broadcaster, author and political commentator first appeared on TV aged 17 when her college bus was bombed by the IRA.
She turned concerned in politics whereas learning regulation at Queen’s College, Belfast, earlier than changing into a solicitor. She lives in County Fermanagh together with her husband Brian and their three kids.
Baroness Foster of Aghadrumsee was chief of the Democratic Unionist Get together from 2015-2021
What did your dad and mom educate you about cash?
I am considered one of 4 kids, and my father John, who died 12 years in the past, aged 81, was a full-time police constable with the Royal Ulster Constabulary in addition to a part-time farmer.
My mum Georgina, now 91, was a housewife. However after an IRA assault on my father, who was shot and injured once I was eight, we needed to depart our farm which hit us exhausting financially.
I did not really feel poor, nevertheless, as a result of my dad and mom have been at all times cautious and by no means spent past their means. There was no such factor as shopping for on credit score in our dwelling rising up.
If one thing was wanted, it could be saved for; although I at all times acquired sufficient pocket cash for my favorite gammon-flavoured crisps.
Have you ever ever struggled to make ends meet?
Probably not, however whereas rising up I by no means had the cash to spend on issues like designer manufacturers that are so frequent now. If I needed one thing, like a bicycle, I normally needed to look forward to a birthday or Christmas or save up.
I wasn’t nice with cash at college and typically went to my father for a ‘top-up’, however I additionally labored in a grocery store on the weekend to complement my scholar grant.
Precedence: Baroness Foster with Theresa Could in 2017, prefers to buy garments on the Excessive Road fairly than on-line
Have you ever ever been paid foolish cash?
It is solely three years since I stepped down as a politician in Northern Eire, and that job definitely did not pay foolish cash.
Being a peer within the Home of Lords and doing a little bit of TV presenting and commentating, as I am now doing, is not going to make me madly wealthy both. Not that I am complaining.
For these of us who stay outdoors London, I feel the present day by day Lords attendance price of £361 is truthful, since now we have to cowl our subsistence and lodging.
What was one of the best 12 months of your monetary life?
I hope it’s but to come back! No critically, as First Minister of Northern Eire I used to be paid properly, however it was a demanding job.
And whereas MPs get an excellent wage [£91,346], it isn’t big, and although it isn’t a preferred factor to say, I feel there is a case to be made for elevating MPs’ pay if we wish to entice one of the best individuals to Parliament, given all that goes with the job.
What’s the costliest factor you’ve got purchased for enjoyable?
A classy £300 Tommy Hilfiger purse that caught my eye. I do like a pleasant purse – which fits me – for my make-up, cell phone and different bits and items.
I used to marvel on the late Queen and her ever-present Launer purse. When she was Prime Minister, Woman Thatcher at all times carried a Launer purse, too – her secret weapon, maybe?
What’s your largest cash mistake?
Forking out on a pair of £80 navy footwear that I noticed on-line a few years in the past. Sadly, the footwear that have been delivered to my home seemed nothing like these within the web site pictures.
I learnt my lesson although, and whereas I admire the comfort of on-line procuring, I choose to strive on an outfit or a pair of footwear in a store earlier than I purchase.
Fortunately, my nearest city, Enniskillen, has a extremely good Excessive Road.
Error: An £80 pair of footwear bought on-line proved to be a mistake for Baroness Foster
Finest cash determination you could have made?
Shopping for the Hobbs and L. Okay.Bennett trouser fits, costing about £300, that I wore as First Minister and nonetheless put on. I normally go for pink due to my darkish hair. As a lady in politics, you are judged on these items however are fairly restricted as to what you possibly can put on. It is a bit unfair as a result of nobody actually cares what sort of go well with a male politician wears.
Do you could have a pension?
Sure, I’ve a pension from the Northern Eire Meeting which I can entry once I attain 65, God prepared. I additionally pay into a personal pension.
I’ve no plans to retire for the foreseeable future, regardless of my mom, bless her, telling everybody I used to be ‘retiring’ once I stepped down from politics aged 51. Thanks, Mum!
Do you personal any property?
A five-bedroom Seventies bungalow in Northern Eire which I personal collectively with my husband. I really like flowers and now we have a pleasant backyard though sadly I am not blessed with inexperienced fingers.
In case you have been Chancellor what would you do?
The very first thing I might do is reduce the UK price of company tax to encourage prosperity.
The Republic of Eire’s low company tax has attracted multinational corporations and drives loads of its financial progress. I needed to have the ability to set Northern Eire’s company tax once I was First Minister, and I nonetheless suppose that must be checked out.
What do I consider Rachel Reeves to this point? I do fear concerning the influence of the latest above-inflation public sector pay rises.
What’s your primary monetary precedence?
To stay financially safe, and assist present for my kids within the years forward, although that does not drive me to need ‘extra, extra, extra’.
My youngest youngster continues to be in school, and one other is at college, however inside just a few years I hope that they’re going to all be capable to financially stand on their very own toes.
Baroness Foster is chair of the togetherukfoundation.com, which ‘focuses on the positivity of the Union’, and Chair of Intertrade UK.
To listen to her ‘Reflections’ interview on Radio 4 go to bbc.co.uk/sounds.
SAVE MONEY, MAKE MONEY
Investing increase
Investing increase
5.09% on money for Isa traders
Money Isa at 4.92%
Money Isa at 4.92%
Consists of 0.88% bonus for one 12 months
Free share provide
Free share provide
No account charge and free share dealing
4.84% money Isa
4.84% money Isa
Versatile Isa that now accepts transfers
Dealing charge refund
Dealing charge refund
Get £200 again in buying and selling charges
Affiliate hyperlinks: In case you take out a product That is Cash could earn a fee. These offers are chosen by our editorial group, as we expect they’re value highlighting. This doesn’t have an effect on our editorial independence.
Some hyperlinks on this article could also be affiliate hyperlinks. In case you click on on them we could earn a small fee. That helps us fund This Is Cash, and hold it free to make use of. We don’t write articles to advertise merchandise. We don’t enable any industrial relationship to have an effect on our editorial independence.
