Politics

Former minister Steve Webb repays over £10,000 in profit from second home sale


Former minister Steve Webb has said he repaid over £10,000 profits from selling his taxpayer-subsidised second home.

A Mirror probe revealed this week that more than 160 MPs have made a total of £42million selling properties the public helped pay for by picking up their mortgage interest bills until 2010.

And another 170 are sitting on potential profits of £100million.

A Mirror probe has revealed how MPs have made £42m selling taxpayer-subsidised homes

 

Mr Webb, 53, a former Liberal Democrat MP and Pensions Minister, bought his flat near Westminster in 2008 for £280,000, claimed £1,158 a month in mortgage interest and then sold it in 2012 for £295,000.

He said: “I can confirm when I sold the property I sent a cheque to the Fees Office in respect of the profit I had made.”

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