Saturday, December 1, 2012
MP’s 2nd homes ~ sleight of hand
"In 2010, MPs were told that at the end of two years they would no longer be allowed to claim mortgage interest on expenses. Dozens who continued to claim during this period were told that if the value of the second home increased, they must hand over the â€œcapital gainâ€ to parliamentary authorities. But The Sunday Telegraph (ST) has found that a number of the MPs told parliamentary authorities that the value of their second home had fallen in the two-year period â€” meaning they did not have to pay back a penny. ST's investigation found that in some cases the MPsâ€™ house prices had fallen despite increases of as much as 12.65 per cent in average values in their neighbourhoods in the same period!"