Saturday, July 19, 2025
18to10k
  • Home
  • Make Money
  • Affiliate Marketing
  • Social Media
  • Real Estate
  • SEO
  • Side Hustle
  • Dropshipping
No Result
View All Result
18to10k
No Result
View All Result
Home Real Estate

Ex-minister blames mortgage hike for his quitting UK government post

Admin by Admin
January 29, 2024
in Real Estate
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter


Unlock the Editor’s Digest without cost

Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly publication.

READ ALSO

Property ‘flipping’ hits 12-year low as charges and tax changes hit market

UK landlords quit sector as number of homes to let falls, survey says

Former UK science minister George Freeman has blamed an impending soar in the price of his mortgage for his resolution to stop the position and warned politics was turning into an unaffordable profession.

Freeman, who stepped down final November throughout a reshuffle by Prime Minister Rishi Sunak, mentioned in a Substack weblog he couldn’t afford his mortgage going as much as £2,000 a month on his earlier ministerial wage of £118,300. 

The MP for Mid Norfolk defined his rationale for resigning: “As a result of my mortgage rises this month from £800 [per calendar month] to £2,000, which I merely couldn’t afford to pay on a ministerial wage. That’s political financial system 2.0.”

Backbench MPs are paid £86,584 a yr however, in contrast to ministers, they will make extra cash from exterior pursuits together with company advisory roles, journalism or legislation. 

Sir Brandon Lewis, former chair of the Conservative occasion, has accumulated 5 roles with a mixed wage price almost £500,000 a yr on prime of his job as an MP since he stop the cupboard. Lewis’s most controversial job is advising LetterOne, an organization 49 per cent owned by two sanctioned Russian oligarchs. 

Boris Johnson made £4.8mn on prime of his wage as a backbencher within the six months after he was pressured out of workplace as prime minister. 

We’re at risk of creating politics one thing solely hedge fund donors, younger spin-doctors and failed commerce unionists can afford to do

Though critics questioned how Freeman could possibly be struggling to afford a £2,000 mortgage on a wage of almost £120,000, the Tory MP informed The New Statesman on Monday that his funds have been “not what they have been” after “a really painful divorce”.

Freeman was left disenchanted by the November reshuffle, having been rejected for a cupboard position which may have delivered an additional £36,000 of pay.

Freeman’s travails echo those facing millions of homeowners throughout Britain as they arrive off fixed-rate offers into an atmosphere of a lot greater rates of interest. Rising charges have been pushed by excessive inflation attributable to Russia’s invasion of Ukraine, though the Tory authorities’s “mini-Finances” in September 2022 additionally exacerbated the issue. 

Having labored in life sciences and expertise earlier than coming into parliament — and having spent years within the roles of life sciences, transport and science — Freeman is well-placed to safe exterior work. 

“We’re at risk of creating politics one thing solely hedge fund donors, younger spin-doctors and failed commerce unionists can afford to do,” he mentioned.

Freeman, who has a majority of twenty-two,594 from the 2019 election, has not but clarified whether or not he’ll search re-election.



Source link

Tags: blamesExministerGovernmenthikemortgagePostQuitting

Related Posts

Property ‘flipping’ hits 12-year low as charges and tax changes hit market
Real Estate

Property ‘flipping’ hits 12-year low as charges and tax changes hit market

July 10, 2025
UK landlords quit sector as number of homes to let falls, survey says
Real Estate

UK landlords quit sector as number of homes to let falls, survey says

July 10, 2025
Rachel Reeves to launch permanent mortgage guarantee scheme
Real Estate

Rachel Reeves to launch permanent mortgage guarantee scheme

July 9, 2025
Could the renters’ rights bill cue a rethink of home ownership?
Real Estate

Could the renters’ rights bill cue a rethink of home ownership?

July 4, 2025
UK mortgage approvals rise for the first time this year
Real Estate

UK mortgage approvals rise for the first time this year

June 30, 2025
Non-doms’ retreat hits London’s prime housing market
Real Estate

Non-doms’ retreat hits London’s prime housing market

June 20, 2025
Next Post
What Mike McCarthy calling plays could mean for Cowboys receivers – Blogging The Boys

What Is Dropshipping? How This Business Strategy Is Shaping Up In India - ABP Live

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

four × 1 =

POPULAR NEWS

10 Simple Ways to Get Paid to Text

10 Simple Ways to Get Paid to Text

March 24, 2023
67 Under the Table Jobs that Pay Cash (Off the Books Jobs Near You!)

67 Under the Table Jobs that Pay Cash (Off the Books Jobs Near You!)

January 28, 2025
11 Easy Ways to Review Movies for Money in Your Spare Time in 2023

11 Easy Ways to Review Movies for Money in Your Spare Time in 2023

May 24, 2023
How to Create a Facebook Business Page (and Grow It) in 2023

How to Create a Facebook Business Page (and Grow It) in 2023

January 20, 2023
8 Best Sites Like Freecash For 2024 (High-Paying List!)

8 Best Sites Like Freecash For 2024 (High-Paying List!)

February 27, 2024

EDITOR'S PICK

How Much Does Web Hosting Cost? 5 Web Hosting Costs in 2023

How Much Does Web Hosting Cost? 5 Web Hosting Costs in 2023

August 18, 2023
What Mike McCarthy calling plays could mean for Cowboys receivers – Blogging The Boys

Policymakers need a plan to contain AI or risk dire consequences – PoliticsHome

October 24, 2023
What Mike McCarthy calling plays could mean for Cowboys receivers – Blogging The Boys

Dallas Cowboys Madden simulation predicts easy win over Miami Dolphins – Blogging The Boys

December 24, 2023
I Acquired a Business for 43% of Its Asking Price and Now Profit $40k Per Month!

I Acquired a Business for 43% of Its Asking Price and Now Profit $40k Per Month!

May 15, 2024

Recent Posts

8 Ways to Make Money While You’re Lying on the Beach

8 Ways to Make Money While You’re Lying on the Beach

July 18, 2025
Margaret Canning: Why there’s no get rich quick scheme when it comes to dropshipping and selling online – Belfast Telegraph

Dropshipping: A Game-Changer for Entrepreneurs and Small Businesses | Dropshipping Global Strategic Business Report and Tariff Impact Analysis 2025 – Yahoo

July 18, 2025
Margaret Canning: Why there’s no get rich quick scheme when it comes to dropshipping and selling online – Belfast Telegraph

How People Are Earning Passive Income With This Simple Setup – Entrepreneur

July 18, 2025

Categories

  • Affiliate Marketing
  • Dropshipping
  • Make Money Online
  • Real Estate
  • SEO
  • Side Hustle
  • Social Media Marketing
  • Uncategorized

Follow us

Recommended

  • 8 Ways to Make Money While You’re Lying on the Beach
  • Dropshipping: A Game-Changer for Entrepreneurs and Small Businesses | Dropshipping Global Strategic Business Report and Tariff Impact Analysis 2025 – Yahoo
  • How People Are Earning Passive Income With This Simple Setup – Entrepreneur
  • Promising Business Opportunities in 2025 – India Today NE
  • Afraid AI Will Take Your Job? Here’s What to Do (Instead of Panicking)
  • Privacy And Policy
  • Terms And Condition
  • About Us
  • Contact Us

© 2023 18to10k | All Rights Reserved

No Result
View All Result
  • Home
  • Make Money
  • Affiliate Marketing
  • Social Media
  • Real Estate
  • SEO
  • Side Hustle
  • Dropshipping

© 2023 18to10k | All Rights Reserved