UK POLITICS

Sadiq Khan calls for immediate seizure of all London properties linked to Putin allies

25 February, 2022
UNN Staff Writer

The Mayor of London is calling for allies of President Putin to have their London properties seized by the UK government.

Sadiq Khan wants their assets taken as he claims oligarchs close to Putin are using the capital as a “safe harbour … to park their cash”.

The Labour mayor is also demanding the introduction of an ‘overseas buyers levy’ that could raise £370 million a year and go towards new council and affordable homes.

Khan claims this could protect the London housing market from exploitation by the Russian President’s supporters long-term.

Khan said: “For far too long ministers have turned a blind eye to the use of our capital’s homes as a safe harbour for oligarchs to park their cash, which is having a negative impact on both our international reputation and our local housing market. Now is the time to act.

London will always be open to foreign investment and the millions of people from around the world who choose to make our city home.

But we must take proactive measures to insist on a greater contribution from overseas buyers, clamp down on those who look to exploit our openness, and use the money to invest in social and other low-cost homes for Londoners.”

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