Tuesday, July 21, 2009
Your tax money at work
Tony Blair has made a Â£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 Â£3.65million. Estate agents estimate it is now worth Â£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 Â£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.