Home   Kent   News   Article

MP claims colleagues made hundreds of thousands on mortgage interest

By political editor Paul Francis

Sir John Stanley
Sir John Stanley

A senior Kent Conservative MP has accused some of his Parliamentary colleagues of making hundreds of thousands of pounds on their second homes by claiming mortgage interest.

Tonbridge and Malling MP Sir John Stanley said a "significant number" had made gains of "truly huge proportions" and many had escaped public exposure in the expenses scandal.

He said the practice of taxpayer-funded second homes had had "disastrous consequences for the public confidence and trust in MPs" and people were "absolutely right" to be angry.

The MP’s outspoken comments were made in a submission to the Committee on Standards in Public Life, which is reviewing MPs’ expenses.

Sir John, who is among the lowest claimants of all MPs in the county and chooses to rent a second home in London rather than buy one, said: "Over the years, a significant number of MPs – only a few have so far been reported in the Press – have made hundreds of thousands of pounds, net of capital gains tax, over and above their Parliamentary salaries in this way."

He added: 'Under the present system, MPs get the mortgage interest on their second home reimbursed to them by the taxpayer. They then get the great benefit of living in that home with the major outgoings, like council tax, gas and electricity charges, also being paid for them by the taxpayer."

The use of taxpayers’ money to contribute to mortgage expenses on second homes is among issues being considered by the inquiry.

It is widely expected to be ended as a result of reforms after the disclosures of how the arrangements were being exploited by MPs across all parties.

Close This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.Learn More