Lost: one feline Labour MP, sleek coat, answers to the name of Gisela Stuart (Edgbaston). If you see this much-stroked pussy please ring to say she is all right.
David Gauke pointed out that MPs would, as a result of the reforms, now get a 55% tax cut on capital gains (down from 40% to 18%) when they sell their taxpayer subsidised Westminster second homes. At this self-serving outrage there was a collective “what the f***!” from a roomful of exasperated entrepreneurs.
Guido thinks when the vote comes, those MPs who vote themselves a 55% tax cut and small businesses an 80% tax hike, should be named and shamed. Guido is thinking not just of Yvette and Ed Balls, but those champagne socialists with their multi-million pound property portfolios who will benefit. Michael Meacher and Emily Thornberry spring to mind, but they are not the only MPs who’ll be voting themselves a tax cut on their property portfolios. It adds insult to injury when you factor in that the taxpayer has paid them a tax-free mortgage subsidy worth some £40,000 a year to MPs. Guido will happily publicly name and shame MPs with bulging property portfolios who vote for the Finance Bill that clobbers entrepreneurs. Email Guido any names and details…
A co-conspirator writes:
MPs in Bellamy’s last night were being given priority service – with a queue for drinks, the barman by-passed those at the front and asked MPs joining the queue at the back what they would like. I saw this happen twice. I don’t blame the barman of course (or the MPs actually in the cases last night) – it is no doubt a directive from above telling the barman to do so.
But honestly, why do MPs need priority getting a drink? Is it because they have urgent things to attend to and need to get them down as quick as possible?
Is it important to their role as public servants that they get pissed quicker?
If you own two homes you just got a handy reduction from 40% to 18% on capital gains. Is it a coincidence that almost all MPs own two homes? The constituency and Westminster home owners already benefit from a tax-free allowance worth £40,000 annually to pay their mortgages. Now they can sell the taxpayer funded second home and only pay the reduced capital gains – a 55% tax cut for MPs. Mr and Mrs Balls are paid by the taxpayers quarter-of-a-million a year between them, so hard done by are they that they still claim tens of thousands extra in mortgage subsidy on top. Now with the new changes they will be able to sell that second home you paid for and they will pay only 18% tax on it. No wonder they are laughing… UPDATE : A co-conspirator reminds Guido not to forget the Miliband boys successful efforts to award themselves an IHT tax cut. David Milband is today living in a £ 1.5 million ultra-fashionable-Primrose Hill townhouse at the centre of a complex inheritance-tax avoidance scheme. He shamelessly exploited a loophole which he used to reduce his death duty bills.
When his father Ralph died in 1994 aged 70, leaving a large estate, the Miliband boys agreed a ‘deed of variation’. The cunning move meant that 40% of the equity of the Primrose Hill home was transferred to Ed and David, who were each given a 20% share in the house neatly evading the tax bill.
*Could be an incorrect figure, see the debate in the comments. Guido is not an accountant.
So much for equality in the people’s palace. The political class really does have airs and graces:
Access to Services
Before the recess the Speaker approved the Administration Committee’s recommendation that Members should have priority access to services throughout the Commons part of the Parliamentary Estate.
With effect from today, staff and other users should be prepared to give way to Members when queuing for retail and catering services, the post office, travel office or when using other facilities such as lifts, photocopiers, telephone cubicles, etc.
When using parliamentary facilities, please bear in mind whether there is, or is likely to be, a heavy demand from Members and, if so, try to amend your own plans or schedule.Sue Harrison
Director of Catering Services