
Alan Duncan claimed £63000 in mortgage 'flip'
Submitted by Ian on Sat, 04/07/2009 - 11:50
MPs' expenses: Alan Duncan claimed £63000 in mortgage 'flip' - Tory MP claimed for mortgage on designated second home even though he owned the property outright. [Telegraph latest MPs expenses]
The answer is really not too difficult. From the moment we started paying for it - any increase in value is partly (I would guess mostly) the tax payers'. We place a "Charge" on it at the Land Registry and when a capital gain is realised, whenever that might be, our share of the profit is then paid back to the tax payer. It should be retrospective in my view too.
Another good idea would be to limit any second home to a one bedroom flat unless they share it with another MP.
All easy and straight forward, but that doesn't mean it will happen of course.
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