Having being relegated to the Conservative backbenches, the 45-year-old received a raft of criticism for taking several new positions outside his role as an MP – including the editorship of the London Evening Standard.
Reacting to his latest role, Taylor quipped: “It’s another of the serious bits of a charity appeal – you can tell it's serious because we’ve got the sad piano movement in the background.
“There are people who need our help, people right here in this country who are barely getting by – people like George.
George Osborne was subject of a satirical charity appeal
There are people right here in this country who are barely getting by – people like George Osborne
“George has to work five jobs every day, advising investment bankers BlackRock, speaking at the Washington Speakers Bureau, being the chairman of the Northern Powerhouse and being a fellow of the McCain think tank, and occasionally even remembering to be MP for Tatton.
“But, that is not enough – just to keep up with the bills, George has had to become the editor of the London Evening Standard.
“Like so many British workers, he’s on a zero hours contract – he gets a massive salary and works virtually zero hours.”
Taylor’s monologue sent the studio audience into raptures as they offered the comedian a lengthy applause.
The show’s host, Hugh Dennis could help but offer his own joke to compile further misery on Mr Osborne.
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He joked: “It is pretty tough holding down a journalism job part-time, even Clark Kent found it tricky…”
Parliament’s ethics watchdog is set to review its guidance on MPs’ second jobs in the wake of Mr Osborne’s editorship position.
The Committee on Standards in Public Life insisted the move had not been solely prompted by the former Chancellor.
A Commons committee will examine MPs' second jobs after Mr Osborne's role was announced
Lord Bew, who chairs the committee, said: “The Committee met today and discussed the subject of MPs’ outside interests.
“We will make a further submission on ‘reasonable limits’ for outside interests to the Commons Committee on Standards’ on-going inquiry into Code of Conduct for MPs.
“We will be holding a short review to inform our submission. Given the public interest in these issues, we welcome contributions from all interested parties. The Terms of Reference will be available on our website next week.”
He added: “It is for the Advisor Committee on Business Appointments, the Parliamentary Commissioner for standards, and the House of Commons Committee on Standards to rule on individual cases.”