Exclusive: George Osborne family business pays out nearly £1m despite losses
George Osborne’s family has received nearly a million pounds in payments from a wallpaper company that has continued to file losses, official accounts show.
The former UK Chancellor is slated to have made up to £877,000 alongside his parents and a finance officer working at Osborne & Little, the family-owned wallpaper business which has existed for some 57 years.
Despite the payments to company directors, which include George Osborne, the company posted a loss of £473,000 in the financial year ending in 2025. This was around a quarter of the losses posted in the previous year.
Sales are facing tough conditions as a result of President Trump’s higher tariffs, putting the Osbornes’ firm under threat as continued losses have been pencilled in for the upcoming years.
The amount of tax paid by the company also nosedived on the year, falling from £228,000 in 2024 to just £20,000 last year.
George Osborne’s father, Peter Osborne, has personally supported the family business, providing it with a cash loan worth £267,000.
The loan’s interest rate charge stands at 3 per cent above the Bank of England’s base rate, which is currently 3.75 per cent.
The home decor magnate is also taking on greater risk from lending funds to the family business, with his cash injection coming in addition to his subordinated loan of £400,000 provided in late 2024. He previously forgave a £170,000 loan to the company.
HSBC, the banking giant which reportedly considered appointing George Osborne as chair, also supported the wallpaper firm’s cash flows with further loans worth millions of pounds.
The latest set of accounts underline a tricky year for the Osbornes’ family firm, though there may be some cause for optimism in lower levels of losses than previously recorded.
The wallpaper seller has had to move its offices from Wandsworth to Merton while its shop on the King’s Road in Chelsea also closed.
Revenue across the UK, Europe and the US has fallen over the last year, though operating costs have been curbed by reduced headcount and lower lease charges.
Osborne’s influence
George Osborne is believed to be making a fortune outside of his family business.
He has recently taken up a new role as head of OpenAI for countries under tech entrepreneur Sam Altman after cold-calling the US tech billionaire and asking for a job.
The former Chancellor has enjoyed a well-established and varied career outside politics, having served as a partner at the boutique investment bank Robey Warshaw and hosting the inaugural British Museum Ball in his capacity as the institution’s chair.
On the side, Osborne has maintained close ties to key government figures as the host of the Political Currency podcast alongside former Labour minister Ed Balls.