Tory MP George Freeman, the MP for Mid Norfolk, said that an increase in mortgage costs was the main reason he quit his ministerial post during the November reshuffle.
A Tory MP says he quit his £120,000-a-year ministerial job because he could not afford his mortgage repayments soaring from £800 to £2,000 a month.
In what is yet more proof of just how out of touch the Tories are, many questioned how if Tory Ministers on six-figure salaries are feeling they are unable to keep up with their mortgage payments, how they expected the rest of the country to cope amid soaring bills and energy prices.
Tory MP George Freeman, the MP for Mid Norfolk, said that an increase in mortgage costs was the main reason he quit his ministerial post during the November reshuffle.
Freeman, who was Science Minister under Sunak, wrote in a Substack blog post last week: “Why did I stand down?
“Because my mortgage rises this month from £800pcm to £2,000, which I simply couldn’t afford to pay on a Ministerial salary. That’s political economy 2.0.
“We’re in danger of making politics something only Hedge Fund Donors, young spin doctors and failed trade unionists can afford to do.”
Commenting on the story, LLF columnist Prem Sikka posted on X: “Tory MP quit as minister because he ‘couldn’t afford mortgage hike on £118,000 salary. He voted for austerity and real wage cuts. Spare a thought for low/middle income families.
“Median UK wage is £29,600; 17.8m have income of less than £12,570.”
Another social media user wrote: “He should ask his friend Liz why his mortgage shot up . . “
Basit Mahmood is editor of Left Foot Forward
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