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The recent pledge by Kennedy that MP’s must pay back profits from second homes only applies to gains since November 2009, [gains from massive Increases up to 2008 will be ignored.]
Once again they fail to live up to expectations.
Profits from second homes need to be backdated to 1997.
There was never any political will to enable the average person earning average wage to be able to afford an average house in a rising unregulated market, under a secret expenses system, where MP’s were all flipping houses, making hundreds of thousands in personal profits.
Not one MP represented the average wage earner.
It is typical that the plan is NOT to reclaim the profits made before 2008 – as this is when 95% of the profit would have been made. Again it appears a symbolic gesture to appease angry voters. But we will NOT be so easily conned.
It is not just that they used our money to profit, and paid no tax on the gains, it is also that it created a dangerous conflict of interest that meant that voting for policies which fed the house price bubble also generated personal profits for them.
MP’s should not be able to make any kind of PERSONAL profit whatsoever, with Taxpayers money.
Millions of average wage earners, have been forced to waste tens of thousands of pounds in rent. Not able to afford a property. Paying someone elses debt. Unable to get a decent start in life. Working for nothing. No capital, to show for a decade of hard work.
MPS MUST PAY BACK ALL PROFITS, FROM THEIR ENTIRE TIME IN OFFICE, WITH INTEREST, AND SHOULD SUFFER REVENUE FINES, AS WOULD THE REST OF US.
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