George Freeman mortgage: MP resigned from Cabinet as he 'couldn't afford' £2K payments on ministerial salary

A former Science Minister has revealed he quit his role in Cabinet because he could not afford rising mortgage repayments on a salary of almost £120,000.

George Freeman resigned from government in November amid Rishi Sunak’s Cabinet reshuffle. In a Substack post, he revealed this was because his mortgage payments had gone up from £800-a-month to £2,000-a-month.

He said: “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.”

Mortgages have jumped up after interest rates sky-rocketed following inflation, due to the war in Ukraine, and Liz Truss and Kwasi Kwarteng's disastrous mini-budget.

Freeman, who has been the MP for Mid Norfolk since 2010, would have been receiving an annual salary of around £118,300 in total. This included his MP's salary of £86,584.

'Truly pathetic'

On social media, people took a dim view of Freeman being unable to afford a £24,000-a-year mortgage on a salary of more than £118,000.

Human rights lawyer Clive Stafford Smith tweeted: "Truly pathetic: George Freeman quits as minister as he can't pay his mortgage on the measly £118,300 plus expenses we pay him. Do these people know what the average wage is?"

While Jon Jones joked: "George Freeman should stop buying avocados and cancel Netflix."

Freeman can now take on second jobs while working as MP

Now, having quit government, Freeman is able to take on lucrative second jobs, while still working as an MP. However, according to the Register of Members' Financial Interests, he has not yet taken any outside work.

Some MPs make huge amounts of money on second jobs. Last year, NationalWorld revealed that Brandon Lewis was earning £220,000 through five second jobs, after quitting Cabinet.

Freeman told The New Statesman on Monday that his finances “are not what they were – at all”, having gone through “a very painful divorce” and with parents “who are both getting elderly”. “It’s time to… (prioritise) the things that I feel, rather painfully personally, that I’ve had to neglect,” he told the magazine. As my (second) wife said the other day, I’m not 26, 36, or 46. I’m now 56. Nearly 57. Three stone overweight, 30 years poorer.”

Ministerial severance pay

Freeman has also pocketed government severance payments after departing. He received £7,920 when he quit Boris Johnson’s government in July 2022, before returning to his role as science minister under Sunak 16 weeks later, according to Labour analysis.

Ministers under the age of 65 are entitled to a loss-of-office payment amounting to a quarter of their ministerial salary if they leave their role and are not appointed to a new one within three weeks.

Freeman also highlighted the toll his ministerial role had taken on him and his family. “I was so exhausted, bust and depressed that I was starting to lose the irrepressible spirit of optimism, endeavour, teamwork & progress which are the fundamentals of human achievement,” he said, adding that his children “have paid a very high price” for his career choice. Government is a cruel mistress. Modern politics is a savage playground.”

Despite Freeman’s pay concerns, Downing Street indicated there are “no plans to change our approach to ministerial pay”. “It’s right that we ensure that ministerial pay reflects the wider fiscal situation,” the Prime Minister’s official spokesman said.

Ralph Blackburn is NationalWorld’s politics editor based in Westminster, where he gets special access to Parliament, MPs and government briefings. If you liked this article you can follow Ralph on X (Twitter) here and sign up to his free weekly newsletter Politics Uncovered, which brings you the latest analysis and gossip from Westminster every Sunday morning.