Poor Tony Abbott

Tony Abbott has opened up to his friends at The Australian about how tough things are for him these days. The inconsiderate people of Australia weren’t taking Tony’s mortgage into consideration when they voted out the Howard government and delivered him a $90,000 pay cut.

But before we all start feeling too sorry for Tony and his family’s mortgage stress lets just take a look a little deeper into his situation. According to the article the Abbotts bought their present home in 1994, when Tony had only just entered parliament as a member of the opposition, so surely the personal responsibility preached by Tony and the members of his party would mean that he wouldn’t have borrowed more than he could afford. Add to this the fact that parliamentariansĀ  earn more in 2008 than they did in 1994, more than keeping in front of inflation and interest rate rises. So really, Tony isn’t in danger of losing his home just yet. Besides which, being a frugal and responsible person, Tony surely would have used some of his pay rises to increase the repayments on his home wouldn’t he?

But if Tony was feeling the pinch there’s more good news for him, the median house price in his suburb of Forestville is over $760,000, which is more than double the price he paid for the home in ’94, meaning that Tony will be the beneficiary of a substantial tax free capital gain when he moves. And while $350,000 was enough to get Tony a home in the leafy North Shore, today, thanks to a housing bubble exacerbated by the former government, that amount of money will see you moving all the way out to Bonnyrigg.

Let’s also not forget that Tony’s new salary of $127,000 a year, plus car and other perks, is about four times the median wage in Australia today.

So from one home owner to another, Harden the F%*k Up Tony.

6 thoughts on “Poor Tony Abbott

  1. Maybe Tony got a subprime mortgage, oh that’s right we don’t have them in Australia. Just don’t look at all the For Sale signs on the bogan Mc Mansions in the western suburbs if you want to continue to believe that…

  2. The man should have been sacked many times over. The fact that he still has a job at all should be seen as a blessing by him and as an embarrassment for the citizens of Warringah.

  3. I just hope he re-mortgaged it at the height of the boom and invested the proceeds in MFS shares. (He probably did!)

    BTW, what’s that ‘rubbish’ he’s throwing out on his nature strip? That looks like a perfectly good Weber to me.

  4. Don’t forget his parliamentry super which will give him an annual salary higher than most of us will ever earn, won’t be means tested and can be used before he reaches retirement age and hold other jobs or board positions.

    John Howard is on more money now, just with his Super, than when her was PM.

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