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B B C: Nick Clegg Gives House Sale Profits To Taxpayer.

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'Nick Clegg gives house sale profits to taxpayer':

http://www.bbc.co.uk/news/uk-politics-13129854

Nick Clegg has sold his constituency home, giving almost £40,000 in profits to the taxpayer.

The deputy prime minister is now renting a two-bedroom flat, having received £325,000 for his four-bedroom house in Sheffield.

Mr Clegg said he wanted to "lead by example" and encourage other MPs to "get out of the property game".

Expenses rules mean MPs will no longer be able to claim mortgage payments on second homes from August next year.

They are instead being urged by the Independent Parliamentary Standards Authority to rent smaller properties.

Mr Clegg, MP for Sheffield Hallam, bought the house in Bents Green in 2006 for £280,000. It has been sold for £325,000 after going on the market in September last year.

This leaves a profit of £38,750 after fees and other costs are taken off.

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'Nick Clegg gives house sale profits to taxpayer':

http://www.bbc.co.uk/news/uk-politics-13129854

That's a big rise!

One has to suspect something unreported Either political favours (someone sold it to him cheap, or paid well over the odds when he sold), or he's done substantial works to add significant value.

Still, either way it's a good example to set. Just a shame he hadn't bought it five years earlier, so there'd be the clear and unambiguous expectation of big, unearned profits.

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£38,750 / 26,000,000 taxpayers = £0.00149p each.

When can I expect my cheque?

Go away!

You know the real value of MPs not taking capital gains is to take away their vested interest in HPI. That's the example he's setting.

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Sounds to me like the MPs are expecting prices to drop off a cliff in August....they'll be encouraging each other to buy large houses in due course as they aren't very expensive anymore.

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Sounds to me like the MPs are expecting prices to drop off a cliff in August....they'll be encouraging each other to buy large houses in due course as they aren't very expensive anymore.

I wonder who will be the first MP to sell at a loss and try to charge it to the taxpayer!

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Go away!

You know the real value of MPs not taking capital gains is to take away their vested interest in HPI. That's the example he's setting.

You're absolutely correct (I was just being a knob), though I'm sure the treasury will spend the £40k wisely - perhaps the NHS need a new door handle?

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I wonder who will be the first MP to sell at a loss and try to charge it to the taxpayer!

My initial instinct was to think 'is this the first stage of repaying profits but passing on losses?'

Of course the gains would be fudged so that no--one actually gave anything back, but the parasites that have missed out on the 1 way bet get bailed out.

Maybe this site is making me cynical.

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Clegg is clearly an HPC reader and is pre-empting the massive coming crash by liquidating the asset and moving into rented accomodation before he takes a massive loss.

It's also safe to assume that he won't be needing a pied a terre in Sheffield after the next election either, so I applaud his foresight. Expect him to look for somewhere in Brussels ready for his reward as a comissioner.

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OK, so it's just a PR stunt, that's still better than the likes of John "I'm never going to become a Lord, and I'm not suing Murdoch Press for the money" Prescott.

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Hopefully the Millibands will be the next ones to set a good example. They built up a nice little property nest egg, whilst in Government I might add so directly benefited from their own economic policies. Also bear in mind that you have stand down as a Company director whilst in government, and declare any investment interests. "Investment" in property is of course are exempt from all this red tape.

Edited by Sir John Steed

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Hopefully the Millibands will be the next ones to set a good example. They built up a nice little property nest egg, whilst in Government I might add so directly benefited from their own economic policies. Also bear in mind that you have stand down as a Company director whilst in government, and declare any investment interests. "Investment" in property is of course are exempt from all this red tape.

Don't be so ridiculous - they're socialists. Betraying one's principles is second nature to oxygen wasting cretins like them.

Look at Bob Crowe - earns £120k a year but lives in LHA rented house at subsidised rates - fecking scum.

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There's at least double that number of taxpayers in the UK. VAT, Excise Duty, Stamp Duty, etc., etc., all go into the same pot.

THE DEFINITION

taxpayer:

noun /ˈtæksˌpeɪ.ər//-ɚ/ n [C] Definition

a person who pays tax

the taxpayer

all the people who pay tax to the government

THE MATHS

26,000,000 x 2 = 52,000,000

So there are more than 52,000,000 taxpayers in the UK?

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Nick Clegg's received a lot of bashing lately but this is a good move (as was his fairly brave comments about employment of children of current Westminster employees getting preferential/inside treatment for job offers). So good on him.

He's done quite well in the last week or two what with standing fast against new New Labour Plant Gillian Duffy.

Edited by pl1

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Nice work Clegg. Its easy to taek pot shots at this move but its take a big man to put your money where your mouth is (even if you have plenty of cash already)

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Well done to Nick.

Next step should be to force all MPs who have made capital gains from second houses, whose mortgages have been paid by the tax payer, to pay 100% on those capital gains.

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THE DEFINITION

taxpayer:

noun /ˈtæksˌpeɪ.ər//-ɚ/ n [C] Definition

a person who pays tax

the taxpayer

all the people who pay tax to the government

THE MATHS

26,000,000 x 2 = 52,000,000

So there are more than 52,000,000 taxpayers in the UK?

If you count anyone who (for example) buys something with VAT attached, probably more than 52m. Even a 4 year old buying a toy car with his pocket money is a taxpayer by your definition above.

Of course the number of NET taxpayers (i.e. tax paid greater than benefits/wages received) is far lower than 26m, as it excludes all public sector workers for a start.

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