Sadiq Khan has come up with a ‘Robin Hood’ method of punishing Russia further for its invasion of Ukraine. The London Mayor has suggested that properties owned by oligarchs in the capital, valued at roughly £1.1 billion, should be ‘seized’.
Take from the oligarchs, give to the people?
The suggestion was made in a letter Khan sent to Michael Gove this weekend. Though he has commended government efforts to seize Russian-owned assets so far, the Labour politician is imploring the Tories to go even further.
According to Khan, the billion-pound property value should be redistributed into a house-building scheme, allowing more Brits to get onto the property ladder by providing thousands of low-cost homes.
“We need to take stronger action closer to home. I have urged the Government to seize property assets held by allies of Vladimir Putin, as well as setting up an effective register of overseas property beneficial ownership.”
“New City Hall analysis reveals that if the £1.1bn of property identified as being bought by Russians accused of corruption or links to the Kremlin could be sold, this would provide sufficient funding for over 4,000 low-cost homes.” | Sadiq Khan
Sadiq Khan wants to use Russian money to fund Ukrainian aid
In his letter, Khan also proposed that some money raised by the seizure of Russian-owned property should also be used to ‘provide affordable accommodation’ for Ukrainians displaced by Putin’s acts of aggression:
“This could also include providing affordable accommodation for some of those Ukrainians who have made London their home after fleeing Ukraine following Putin’s invasion. Our current measures do not go far enough”
“Ministers must now seize property which has been bought by Putin’s cronies, so we can use the proceeds for the benefit of those in need. I welcome the steps announced by government yesterday but they do not go far enough.” | Sadiq Khan