Garbled Article in The Times about Mortgage etc
There has been a garbled article published in The Times today
about the mortgage on my london flat.
It is based mainly on what I put on my weblog in May 2009 here
It gets a bit complex with me having a mortgage on Fletcher Buildings then clearing it and then getting another one.
It remains my view that what I did was not only within the rules and cleared by the authorities at the time, but also saved money for the taxpayer.
If you look at my posting of May 2009 you will find that my personal expenses over a period of years were £45,075 less than those of Khalid Mahmood MP.
There were other options such as selling and repurchasing or renting out my own flat and renting another via ACA. Those would have cost the taxpayer more.
What doing this achieved, as opposed to simply leaving the flat without a mortgage, was to enable me to put more revenue expenditure into the subsidy that I provide to my constituency activities.
I know that parliament now doesn't allow MPs to buy properties - so this could not be done by an MP elected in 2010. The concentration should be on reducing costs, but instead is on having a system that no-one can critise. The end result is becoming a mess.
I also stopped claiming second home expenses in early 2009 as a measure to reduce the deficit. (aka save the taxpayer money).