Jump to content
House Price Crash Forum
Sign in to follow this  
BlueRat

Despite Strict New Rules On Expenses, Mps Cash In On 'third Home Ploy'

Recommended Posts

As HPC has previously noted

Despite strict new rules on expenses, MPs cash in on 'THIRD HOME ploy'

MPs have been accused of exploiting rules intended to end the scandal of second-home expenses – by claiming taxpayers’ money for a third.

Some are earning thousands of pounds by letting out the second homes they bought with public funds, then moving into a rented third home nearby – and claiming Commons expenses on that instead.

The move also means they can dodge a new clawback measure that would force them to pay back up to £20,000 of profits made on the sale of second homes.

...

the register shows how more MPs – a record 102, nearly one in six of them – are supplementing their £65,000 MP’s salary by renting out property.

What the register does not spell out – because MPs are not required to declare it – is that the home they are renting out is the one they bought with public funds under the old discredited expenses regime.

Front page of the Mail on Sunday, four greedy MPs scrutinized:

http://www.dailymail.co.uk/news/article-1335753/MPs-expenses-Politicians-cash-THIRD-HOME-ploy.html

Share this post


Link to post
Share on other sites

In 2009 When the Telegraph first broke the expenses scandal.

Gordon Brown and LABOUR forced a three line whip, to try to exempt MP's second home expenses from the Freedom Of Information act.

From being made public. [both the Tories and Lib dems voted in favour of MP's expenses for second homes being made public.]

Sir Ian Kennedy, chairman of the new Independent Parliamentary Standards Authority (Ipsa) ruled that Ministers should repay profits on their second homes.

However, that only applies to gains from November 2009!

So profits from massive House Price Increases UP TO November 2009, were locked in.

HPI was all cream for our elected officials.

[Profits from second homes needed to be backdated to 1997.]

The truth is that there was never any political will to enable the average person earning average wage to be able to afford an average house in a rising unregulated market, under a secret expenses system, where MP's were all flipping houses, making hundreds of thousands in personal profits.

Not one MP represented the average wage earner.

It is not just that they used our money to profit, and paid no tax on the gains, it is also that it created a dangerous conflict of interest that meant that voting for policies which fed the house price bubble, for so many years, such as keeping IR too low for too long, CGT etc, also generated personal profits for them, in secret.

EDIT: *[This is far worse than insider trading]*

And now we see nothing has changed. [Whilst they are allowed to profit in this fashion, we will never see a tax on BTL. We will never see affordable housing]

Words Fail me. I honestly believe if MPs had not been making personal profits on second home expenses for all those years, in secret, then rising house prices would have been examined a lot more closely. Probably ten years ago.

The source of our misery, is the same source as their profit. [it is not merely 'sharp practice'. Its criminal behaviour]

These MP's are acting in a manner contrary to the rules of parliament, and should be fired. And Fined. At the Very Least.

I would like to see someone burn these MP's houses to the ground.

Edited by Dan1

Share this post


Link to post
Share on other sites

*[This is basically the same as insider trading]*

No, it's worse.

Insider trading implies insider knowledge, but doesn't imply ongoing power/influence over the market.

Share this post


Link to post
Share on other sites

No, it's worse.

Insider trading implies insider knowledge, but doesn't imply ongoing power/influence over the market.

Yes Agreed. Its juts complicated thievery

The most irritating, and angering thing, is there is nothing we can do about it.

We are impotent. One rule for them. Another for us. They tell us to expect protests etc. But they are the cause. All we want to do is get along in life....

[The only real recourse is to act outside of common law, which is exactly what they do]

Edited by Dan1

Share this post


Link to post
Share on other sites

And I worry about paying my flaming tv license on time :angry: .....some excellent posts here. !

Many people do not pay it.

You get letters and the odd visit. You state you have no tv and shut the door. They get fed up of visiting after a while. They have no authority to enter your home.

Share this post


Link to post
Share on other sites

In 2009 When the Telegraph first broke the expenses scandal.

Gordon Brown and LABOUR forced a three line whip, to try to exempt MP's second home expenses from the Freedom Of Information act.

From being made public. [both the Tories and Lib dems voted in favour of MP's expenses for second homes being made public.]

Sir Ian Kennedy, chairman of the new Independent Parliamentary Standards Authority (Ipsa) ruled that Ministers should repay profits on their second homes.

However, that only applies to gains from November 2009!

So profits from massive House Price Increases UP TO November 2009, were locked in.

HPI was all cream for our elected officials.

[Profits from second homes needed to be backdated to 1997.]

The truth is that there was never any political will to enable the average person earning average wage to be able to afford an average house in a rising unregulated market, under a secret expenses system, where MP's were all flipping houses, making hundreds of thousands in personal profits.

Not one MP represented the average wage earner.

It is not just that they used our money to profit, and paid no tax on the gains, it is also that it created a dangerous conflict of interest that meant that voting for policies which fed the house price bubble, for so many years, such as keeping IR too low for too long, CGT etc, also generated personal profits for them, in secret.

EDIT: *[This is far worse than insider trading]*

And now we see nothing has changed. [Whilst they are allowed to profit in this fashion, we will never see a tax on BTL. We will never see affordable housing]

Words Fail me. I honestly believe if MPs had not been making personal profits on second home expenses for all those years, in secret, then rising house prices would have been examined a lot more closely. Probably ten years ago.

The source of our misery, is the same source as their profit. [it is not merely 'sharp practice'. Its criminal behaviour]

These MP's are acting in a manner contrary to the rules of parliament, and should be fired. And Fined. At the Very Least.

I would like to see someone burn these MP's houses to the ground.

Absolutely

Well said

Notice that the media never highlights this dimension / angle of the whole expenses scandle. As far as most people are concerned the issue was about moats and birdhouses

Share this post


Link to post
Share on other sites

So they could live there but the decide to rent out that property to someone else and then rent a different one for themselves at tax payers expense?

Hopefully they will only last one term in parliament before they get voted out.

Share this post


Link to post
Share on other sites

Notice that the media never highlights this dimension / angle of the whole expenses scandle. As far as most people are concerned the issue was about moats and birdhouses

I know. Makes you sick how every journo follows the same angle. Obviously deliberate. If they have no cause to look any further then they wont.

I emailed my comments to the Lib Dems. [Nick Clegg] and the Tories, [David Cameron], before the election.

One would hope this kind of stuff will seep its way into the general public conscience over the coming years, as house prices drop. Subjects will be re-assessed. Considered in new lights.

And by 2015, our p.o.v will become mainstream, and Labour will be held responsible, instead of the coalition, being blamed, as Labour hope will happen.

[in direct contrast to what the Labour appointee Governer of the BOE Mervyn King stated, that the next cabinet who perform the cuts, will become unelectable.]

The truth will out!

If there is any justice left in this country, the Labour Parties last stint out of office, will look like a short weekend break when compared to the next one.

Edited by Dan1

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.