UK Minister Resigns Over Unaffordable Mortgage Hike, Cites Toll of Politics on Family
-
George Freeman resigned as science minister because his mortgage was set to increase to £2,000 per month, which he said he could not afford on a ministerial salary of £118,300.
-
Freeman had previously quit Boris Johnson's government in July 2022 and received a £7,920 severance payment, before returning to a ministerial role under Rishi Sunak just 16 weeks later.
-
Freeman said politics had taken a toll, leaving him "exhausted, bust and depressed," and that his children had paid a "very high price" for his career.
-
Many UK homeowners face steep mortgage increases as fixed-rate deals expire, with rates rising after Liz Truss's mini-budget and Bank of England rate hikes.
-
Freeman plans to stand for reelection but predicts a Labour government, saying the Conservatives have gone through "turmoil" and no longer look "unified."