Sunday, February 17, 2008

Why MP's Housing Allowance makes them a powerful VI

MPs are given £20,000 of taxpayer's money per annum as "Housing Allowance" to spend on a mortgage on a London pad. But they don't have to hand back any of the capital gains they accrue.

So all MPs have a direct vested interest in pumping house prices.

(Even MPs who live in London BTW)

Twenty-four MPs with seats in Greater London claimed almost £400,000 of public money to fund second homes last year.

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