The former LSAP MP went on to found his own consulting company, "Beta Aquarii", which has reported a turnover of almost a million euros in the nine months since its launch, according to Reporter.lu.
With a turnover of €900,000, and profits amounting to around €200,000, the company can expect to pay taxation of around 30%, or €68,000.
Schneider opted to resign from his role as deputy PM last February, in favour of launching his own business. However, the action has led to concerns among the government's ethics committee, which believes the Code of Ethics for Government Members should be reviewed. Proposals for a waiting period of two years are underway, which would mean members of government would have to put plans on hold before engaging in private economic activities in an area related to their previous office.
