MPs have made £42m profit from second homes

If you think our industrious MPs are already busy enough with Brexit, spare a thought: they’ve also got to manage the process of profiting from their second homes!

According to a Mirror investigation, our dear leaders have collectively made £42 million in profit from selling their taxpayer-subsidised second homes.

One beneficiary is hot/cold Brexit fan Michael Gove, who has apparently made £870,000 from two homes. Nice!

But that’s small beer compared to ex-Cabinet minister Maria Miller, who made more than £1.2m from some slick second home sales work.

Though under parliamentary rules the 160 profiteering MPs are allowed to keep the money, naturally, critics are urging them to hand it back, what with trust and patience levels at record lows amongst the public.

One of these critics is the unimpressed Sir Alistair Graham, former chairman of the Committee of Standards in Public Life, who said: ‘You should not be profiting out of special taxpayer funds; you should repay any gain you made over that period.

‘The arrangement was made purely to take into account MPs who came from the North who would struggle to meet the housing costs.

‘It would need to be carefully ­calculated, but Independent ­Parliamentary Standards Authority has done this before and they can do it again.

‘I don’t think anything will restore trust – it’s at such a low ebb – but it’s the right thing to do.’

According to the investigation, MPs made an average profit of £255,000 on selling their  homes.

Interestingly, second home-selling Labour MPs made an average of £193,000 profit, while Tories floggers made a average of £417,000 – so maybe there’s something in the old myth that conservatives are better with money?

 

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