A Tory MP says he stop his £120,000-a-year ministerial job as a result of he couldn’t afford his mortgage repayments hovering from £800 to £2,000 a month.
In what’s but extra proof of simply how out of contact the Tories are, many questioned how if Tory Ministers on six-figure salaries are feeling they’re unable to maintain up with their mortgage funds, how they anticipated the remainder of the nation to manage amid hovering payments and vitality costs.
Tory MP George Freeman, the MP for Mid Norfolk, stated that a rise in mortgage prices was the primary cause he stop his ministerial publish throughout the November reshuffle.
Freeman, who was Science Minister underneath Sunak, wrote in a Substack weblog publish final week: “Why did I stand down?
“As a result of my mortgage rises this month from £800pcm to £2,000, which I merely couldn’t afford to pay on a Ministerial wage. That’s political financial system 2.0.
“We’re in peril of constructing politics one thing solely Hedge Fund Donors, younger spin docs and failed commerce unionists can afford to do.”
Commenting on the story, LLF columnist Prem Sikka posted on X: “Tory MP stop as minister as a result of he ‘couldn’t afford mortgage hike on £118,000 wage. He voted for austerity and actual wage cuts. Spare a thought for low/center revenue households.
“Median UK wage is £29,600; 17.8m have revenue of lower than £12,570.”
One other social media person wrote: “He ought to ask his good friend Liz why his mortgage shot up . . “
Basit Mahmood is editor of Left Foot Ahead
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