Monday, June 15, 2009

BREAKING NEWS: Wee Georgie Osborne's mortgage and expenses...

Wee Georgie Osborne is the latest MP to face questions over his claims for parliamentary expenses.

It seems Cameron's sidekick took out a mortgage for more than he actually paid for his house - and then billed the taxpayer!.

The would-be Chancellor is also having to explain why he paid no Capital Gains Tax on the £700,000 profit he made on the sale of his London property - a house which he had designated to the Fees Office as his second home but designated to the tax authorities as his main home.

He is arguing that the expenses he claimed on his London property were actually intended for his Cheshire home - and that the Fees Office had agreed to this arrangement

In fact, the record shows that wee Georgie billed the taxpayer for a mortgage on the Cheshire
home worth more than he had actually paid for the house in cash two years before!

And - in the two years between buying his house for cash and taking out a new mortgage - George Osborne billed the taxpayer for £36,067 which he now says went to pay for that property.

Under this arangement, the taxpayer will eventually end up paying George Osborne £4,995 more than he paid for the house and £36,067 in expenses before he even had a mortgage.

I'm sure it's all within the rules...!


Geoffrey G Brooking said...

What about Shahid Malik's?

Anonymous said...

Any views on the latest Labour minister to resign after their expenses claim came to light?