Ken makes an after dinner mint of £100,000

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The former Mayor is going on the black-tie dinner circuit where he is charging £10,000 for a 45-minute speech. According to Speakers For Business, interest in him is sky-high and he is being hired at a rate of around one booking a day. Appearances at 10 business events are already confirmed, earning £100,000.

The sum could be boosted by a £69,000 pay-off from the taxpayer, which Mr Livingstone is entitled to according to the conditions of the mayoralty.

Speakers For Business say Mr Livingstone is "the country's most in-demand speaker" and are touting him as an expert in leadership, business and politics.

Managing director Brendan Barnes said: "Ken is proving extremely popular. People either love him or hate him, he's that kind of character, but he always speaks his mind and that sets him apart from your average political figure on the circuit.

"He has some great tales to tell and has run London for eight years so I'm sure business people can learn a lot from him."

He added: "We worked with him for many years before he became Mayor so we know what kind of impact he can have.

"He's a character - who would you rather have speak at your event, Ken Livingstone or Gordon Brown? There's no contest."

Tony Blair earns up to £250,000 for a 90-minute after-dinner speech while John Major can still command £30,000 for each speech.

The world's top earner is Bill Clinton who has amassed £20 million since 2001 through speaking engagements alone. He charges up to £300,000 per speech.

Mayor Boris Johnson had made between £5,000 and £10,000 a speech over the past few years.