Caravan park tycoon wins huge windfall after taxpayers give him £3.5m-a-DAY to house migrants
King uses army barracks to house migrants
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A migrant hotel ‘king’ has seen his profits soar to more than £60million as taxpayers give him money to house asylum-seekers.
Graham King, 56, a former caravan park tycoon, receives £3.5million a day from taxpayers thanks to Home Office contracts to house refugees.
He made £21million in 2021, however, due to the growing number of migrants crossing the channel, his profits have doubled in the last year.
With the contracts lasting until 2029, King likely may become Britain’s first immigration billionaire.
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Clearsprings Ready Home – his company – has been paid £1.3billion in a year to accommodate arrivals.
This equates to £3.5million a day.
The firm confidently forecasts that business will boom “for the foreseeable future” and is looking to expand its number of sites.
The profits made by the 56-year-old equal the entire aid funding given to Syria.
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The money King has made off the Home Office contracts is also more than the £1 a head given to the 60 million poverty-stricken people of Tanzania.
King used to run a caravan park in Essex with his brother in the 2000s. He also ventured into hosting discos across different venues.
When one of his venues – a former cinema – lost its licence, he decided to use the space as a place to house asylum seekers.
His caravans then became homes for house benefits claimants, after a council decided to intervene.
King now also uses old army-barracks as venues to host migrants.
However, Clearsprings soon hit the headlines when the “decrepit” conditions of the homes were uncovered.
Migrants, picked up at sea attempting to cross the English Channel, are helped ashore from an Royal National Lifeboat Institution (RNLI) lifeboatGETTYThe money King has made has allowed him to put his son and daughter through a £44,000-a-year boarding school.
The family also frequently holidays to expensive places, including Alpine skiing trips.
Shadow Home Secretary Yvette Cooper has said the Government have wasted money on the migrant crisis and under Labour, migrant hotels would cease to exist.
She told the Mail: “The amount of money being wasted by the Conservatives on our broken asylum system is mind blowing – £8million every day.
“Companies are profiting while the taxpayer suffers and, instead of tackling the problem, they just keep making the costs worse.
“Labour has pledged to end all asylum hotel use by clearing the asylum backlog, with more caseworkers and a new returns unit, to save the taxpayer £2billion.
“The British public wants to see strong border security and a properly controlled and fair asylum system.”