Second homes – profits shouldn't stay with MPs

Well hurrah! Nick Clegg has come out with what I have been banging on about since time immemorial – saying that MPs should not be able to make a profit on their second homes if those homes are being purchased with taxpayers’ money. Quite right.

By all means buy a home to live in London if you have a constituency that isn’t within commuting distance of London. MPs should have decent accommodation – but if you sell it at profit that profit should go back to whence the expenses came from.

I remember saying that I thought it was outrageous that MPs could make money (and a lot of money) on their second homes to a group of MPs when I first arrived in Parliament four years ago. They inferred I should not ‘rock the boat’. But I have been rocking the boat ever since – and now it looks like the rocking is getting to the point!

0 thoughts on “Second homes – profits shouldn't stay with MPs

  1. Out of interest, if an MP was to lose money on the home they had to buy in order to function as an MP would they be able to claim that amount back?Only seems fair that if they can’t profit then they shouldn’t be liable for a loss either.

  2. And when an MP rents out that second home (e.g. as Geoff Hoon did when living necessarily in a grace and favour residence), the rental income from the second home (less admin costs) should be offset against the allowance claimed.