Great Yarmouth MP Sir Brandon Lewis is set to earn a quarter of a million pounds a year from his new job advising a company partly owned by two sanctioned Russian oligarchs.

The Conservative will receive the money for working just 416 hours a year - or one day a week - as a senior adviser for investment firm LetterOne.

The figures have emerged in an update to the MP’s register of interest.

It is the latest in a string of lucrative roles the politician has taken in recent months.

Sir Brandon has a total of seven jobs, earning him almost £500,000 and making him one of the highest -paid MPs.

His LetterOne role has already proved controversial because of the involvement of Russians placed on the UK’s sanctions list following the invasion of Ukraine.

Keir Cozens, who is standing against Sir Brandon for Labour at the next election, said: "It boils down to this: Can we really trust a man who has spent the last year lining his own pockets to the tune of £400,000 to be on our side?

"My priorities are clear – no second jobs outside parliament, no distractions, just full-time commitment to Great Yarmouth.

"At the next election voters will have a very simple choice: real change with a full-time Labour MP fully focused on you, or more of the same with a part-time Tory MP happy to sell off his hours to the highest bidder."

Great Yarmouth Mercury: Great Yarmouth seafront (Image: Visit Great Yarmouth)Great Yarmouth seafront (Image: Visit Great Yarmouth) (Image: Visit Great Yarmouth)

Sir Brandon's seven paid and unpaid jobs include his role as an MP, for which he receives £86,584.

He earns £150,000 from three other positions. In total, he receives £486,584. In comparison, prime minister Rishi Sunak has a salary of £167,391.

Sir Brandon's Yarmouth constituency includes some of the region's most deprived areas. In March, figures showed the town had around 2,000 people aged 16 and over who were unemployed – a rate of 4.8pc.

Letter One was founded by billionaires Mikhail Fridman and Petr Aven who were placed on the UK’s sanctions list following Russia’s invasion of Ukraine.

While Letter One has restructured itself to comply with sanctions, the businessmen still own 49pc of the shares. 

Great Yarmouth Mercury: Brandon Lewis. Picture: James BassBrandon Lewis. Picture: James Bass

This is not the first time Sir Brandon's ties to Russian oligarchs have raised eyebrows, with some high-profile donors bankrolling him in recent years.   

He received almost £50,000 from Russian oligarchs between 2014 and 2022.   

Great Yarmouth Mercury: Great Yarmouth from the air (Image: Mike Page)Great Yarmouth from the air (Image: Mike Page) (Image: Mike Page)

There is no suggestion of impropriety relating to the donations.

Sir Brandon recently said that he considered tackling the issue of people being 'debanked' as one of his key priorities.

He claimed that Tory activists have struggled to get mortgages because banks consider them ‘politically exposed persons’ (PEPs) and said that addressing this would be one of his key priorities if he could get any Bill through parliament.  

Sir Brandon has declined to expand on his comments and has not clarified if the volunteers he referred to were people who help out in his constituency, for example, canvassing and delivering leaflets, or if he meant some of his high-profile donors.