David Cameron First PM to Rent Out House
The public spending cuts facing the UK have hit many people hard. Many Brits have been forced to look for ways to supplement their income due to pay freezes, a reduction in bonus payments or, worst of all, redundancy.
And now, it seems that even the Prime Minister is not immune from cuts. It has been revealed this week that David Cameron has become the first Prime Minister in decades to rent out his home whilst his family live in Downing Street.
£72,000 rent per year
Whilst the PM’s salary may have been reduced to £142,500 and frozen for five years, the Camerons are apparently earning up to £6,000 a month by renting their multi-million pound Notting Hill home. Local letting agents say that the house, worth an estimated £2.7 million, would fetch between £4,000 an £6,000 per month on the open market.
The Camerons benefit from two taxpayer funded properties whilst David is Prime Minister. As well as the four bedroom flat above 11 Downing Street, the couple and their family can also use the country retreat of Chequers, the ten bedroom luxury mansion in Buckinghamshire.
The Camerons also own a £1m property in David’s Oxfordshire constituency. Downing Street has confirmed that Mr Cameron stopped claiming the controversial second homes allowance for this property in March.
Previous Prime Ministers have either sold their London properties or some, including John Major and Margaret Thatcher, continued to use them. Samantha Cameron was initially reluctant to move her family to Downing Street, but was persuaded by her husband after security advisers had expressed concern about the cost of protecting the family in both locations.
Tenants move in
A new tenant moved into the Cameron’s Notting Hill residence last week, and commented, “I am renting it through an agent. Of course I know who lived here before but it doesn't bother me. It's no big deal. We have been so busy moving in.”
