A company that marketed a failed bond scheme that lost savers £236m has been funding an MP's private salary. Johnny Mercer receives £85,000 from Crucial Academy, a company ultimately funded by Surge Financial Limited. Surge Financial Limited took 25% commission for marketing bonds by London Capital and Finance (LCF), which is now in administration. Mr Mercer - who is facing calls from investors to quit as an MP - said he had done nothing wrong. The Conservative MP for Plymouth Moor View is a non-executive director of Crucial Academy, which trains military veterans and aims to find them employment. Mr Mercer, himself a former Army officer, is contracted to work four hours per week, a rate of more than £350 per hour. The basic annual salary for an MP is £79,468, and they also receive expenses to cover the costs of running an office. According to Mr Mercer's register of members' interests, his only other regular income is the £85,000 per year from Crucial Academy.

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