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LETTER: Russia - housing sell-off could finance Brexit

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Whilst Prime Minister Theresa May’s actions against Russia will have the commendable result of reducing our expenditure on profligate diplomatic missions in the light of the expected “tit-for-tat” response to her expulsion of Russian diplomats, I fear she really has underplayed her hand.

Whereas immediate nationalisation without compensation of all Russian-owned property in the UK might lead to a temporary downward blip in the London property market, selling these assets off by auction could largely finance the costs of Brexit and would allow UK citizens to pick them up at a substantial discount. Prices would soon rise again even without further government subsidy of the rental market by increased housing benefit.

John Eoin Douglas

By email

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