Tuesday, July 21, 2009

Your tax money at work

Blair makes £2m profit on house that taxpayers helped pay for

Tony Blair has made a £2million profit on the London mansion he bought with help from the taxpayer. When Mr Blair and his wife Cherie bought the luxury 19th century home in Connaught Square in October 2004 it cost £3.65million. Estate agents estimate it is now worth £6.6million. Controversially, the taxpayer has helped the pair pay for the home. In 2003, the then prime minister remortgaged his constituency home in Trimdon for a second time, raising £185,000 which he used as a deposit for the Connaught square townhouse. He then reclaimed the interest on the repayments for the Trimdon house remortgage on expenses.

Posted by little professor @ 08:54 AM (764 views)
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4 thoughts on “Your tax money at work

  • More lies from the Mail. The bliars haven’t sold it so there is no “profit” and we are asked to believe an estate agent’s valuation???

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  • Makes you sick doesn’t it.

    A 5% deposit on a £3.65m house. Which is now worth £6.6m

    Made 20 times his investment in 4-5 years by allowing a property bubble to explode at the expense of the next generation.

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  • James In London says:

    Genius. Perhaps all our tax revenue ought to be invested into mansions. If prices “only go up” I for one can’t think of a better way to earn money on our hard-earned money. And what to do with the profits? Re-invest obviously! Oh hang on, what if THE PROPERTY MARKET does an ICELAND? Oh, that Kerry Katona has much to answer for…

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  • Richard Littlejohn’s article in the Mail is a better read. Just google ‘No wonder cherie’s got swine flu the blairs have had their snouts……..’

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