The former UK Science Minister has resigned and quit his position due to a very strange reason, which he cites as “the increasing cost of living“. According to Greycoat real estate specialists, Goerge Freeman stated that he could no longer afford to pay his mortgage.
This mortgage was set on the 86,584 pounds a year that he was making as the Science Minister of the UK. Greycoat specialists commenting on his case add that his mortgage had risen to 2,000+ pounds per month, and he needed to make more income to keep his home.
He cited this as “That’s political economy 2.0.”, and while he regrets resigning, he has to do what is right for his family and to keep his home. At some point, Greycoat adds, Freeman stated that politics are at risk of becoming a hedge fund donation society (Built-environment).
This, as no one else will be able to afford to live on the paltry salaries offered to politicians who are “struggling” to live on the wages provided. To date, Freeman is not sure how people will continue to run for politics in the future.
It’s unsure who will be able to afford to get into politics in the future, Greycoat adds. Freeman is still waiting to state whether he will run for reelection in the next election cycle. If he can’t live on the salary, however, it seems unlikely that he will be able to afford to live on the salary that is being offered for the position for which he wants to run for.