Science minister George Freeman has revealed that he quit his job because he could not afford soaring mortgage costs on his government salary.
The Conservative was earning £86,584 as MP for Mid Norfolk and an additional £31,680 as a minister of state – a total annual salary of £118,264.
He had given up a career in founding science and technology start-ups to become a politician in 2010, with leading on science policy seen as a natural fit for his skill set.
But in a blog post about why he had stepped down from the ministerial job he loved – albeit not as an MP – Mr Freeman said: “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.
“Government is a cruel mistress. Modern politics is a savage playground.”
Mortgage costs have risen sharply in recent years, as homeowners have been hit by steep rises in interest rates.
Mr Freeman prefaced his remarks about pay and mortgage costs by saying he was also quitting as a minister because he was “so exhausted, bust and depressed”.
He added: “I was starting to lose the irrepressible spirit of optimism, endeavour, teamwork and progress which are the fundamentals of human achievement.
“The day after I handed in my red box and said goodbye and thank you with tears in my eyes to my brilliant civil servants, my diary went white. I suddenly had circa 70 hours a week I didn’t have before.
“I started receiving a tidal wave of letters from people I didn’t know cared what I was doing, thanking me and saying they wish I’d stayed.”
As a now backbench MP, Mr Freeman is allowed to have a second job alongside his parliamentarian’s salary. However, it must be cleared first by the Advisory Committee on Business Appointments.
