Best of the Week
Most Popular
1. US Housing Market House Prices Bull Market Trend Current State - Nadeem_Walayat
2.Gold and Silver End of Week Technical, CoT and Fundamental Status - Gary_Tanashian
3.Stock Market Dow Trend Forecast - April Update - Nadeem_Walayat
4.When Will the Stock Market’s Rally Stop? - Troy_Bombardia
5.Russia and China Intend to Drain the West of Its Gold - MoneyMetals
6.BAIDU (BIDU) - Top 10 Artificial Intelligence Stocks Investing To Profit from AI Mega-trend - Nadeem_Walayat
7.Stop Feeding the Chinese Empire - ‘Belt and Road’ Trojan Horse - Richard_Mills
8.Stock Market US China Trade War Panic! Trend Forecast May 2019 Update - Nadeem_Walayat
9.US China Trade Impasse Threatens US Lithium, Rare Earth Imports - Richard_Mills
10.How to Invest in AI Stocks to Profit from the Machine Intelligence Mega-trend - Nadeem_Walayat
Last 7 days
The Three M's of Hyperinflation : Milosevic, Mugabe, And Maduro - 26th May 19
Global Multi-Market / Asset Charts Review - 26th May 19
An Oil Shock Could Be the Black Swan That Finally Drives Gold Higher - 26th May 19
Brexit Party Forces Theresa May to Resign, Boris Johnson Next Tory Prime Minister? - 26th May 19
IBM - Investing in AI Machine Intelligence Stocks - 25th May 19
Seasonal Dysfunction: Why Generations of Gold and Silver Investors Are Having Such Difficulty - 25th May 19
Employment - The Good and the Bad of Job Automation - 25th May 19
Gold Mining Mid-Tier Stocks Fundamentals - 25th May 19
Buy This Pick-and-Shovel 5G Stock Before It Takes Off - 25th May 19
China Hang Seng Stocks Index Collapses and Commodities - 24th May 19
Costco Corp. (COST): Finding Opportunity in Five Minutes or Less - 24th May 19
How Free Bets Have Impacted the Online Casino Industry - 24th May 19
This Ultimate Formula Will Help You Avoid Dividend Cutting Stocks - 24th May 19
Benefits of a Lottery Online Account - 24th May 19
Technical Analyst: Gold Price Weakness Should Be Short Term - 24th May 19
Silver Price Looking Weaker than Gold - 24th May 19
Nigel Farage's Brexit Party EU Elections Seats Results Forecast - 24th May 19
Powerful Signal from Gold GDX - 24th May 19
Eye Opening Currency Charts – Why Precious Metals Are Falling - 23rd May 19
Netflix Has 175 Days Left to Pull Off a Miracle… or It’s All Over - 23rd May 19
Capitalism Works, Ravenous Capitalism Doesn’t - 23rd May 19
The Euro Is Bidding Its Time: A Reversal at Hand? - 23rd May 19
Gold Demand Rose 7% in Q1 2019. A Launching Pad Higher for Gold? - 23rd May 19
Global Economic Tensions Translate Into Oil Price Volatility - 22nd May 19
The Coming Pension Crisis Is So Big That It’s a Problem for Everyone - 22nd May 19
Crude Oil, Hot Stocks, and Currencies – Markets III - 22nd May 19
The No.1 Energy Stock for 2019 - 22nd May 19
Brexit Party and Lib-Dems Pull Further Away from Labour and Tories in Latest Opinion Polls - 22nd May 19
The Deep State vs Donald Trump - US vs Them Part 2 - 21st May 19
Deep State & Financial Powers Worry about Alternative Currencies - 21st May 19
Gold’s Exciting Boredom - 21st May 19
Trade War Fears Again, Will Stocks Resume the Downtrend? - 21st May 19
Buffett Mistake Costs Him $4.3 Billion This Year—Here’s What Every Investor Can Learn from It - 21st May 19
Dow Stock Market Trend Forecast 2019 May Update - Video - 20th May 19
A Brief History of Financial Entropy - 20th May 19
Gold, MMT, Fiat Money Inflation In France - 20th May 19
WAR - Us versus Them Narrative - 20th May 19
US - Iran War Safe-haven Reasons to Own Gold - 20th May 19
How long does Google have to reference a website? - 20th May 19
Tory Leadership Contest - Will Michael Gove Stab Boris Johnson in the Back Again? - 19th May 19
Stock Market Counter-trend Rally - 19th May 19
Will Stock Market “Sell in May, Go Away” Lead to a Correction… or a Crash? - 19th May 19
US vs. Global Stocks Sector Rotation – What Next? Part 1 - 19th May 19
BrExit Party EarthQuake Could Win it 150 MP's at Next UK General Election! - 18th May 19
Dow Stock Market Trend Forecast 2019 May Update - 18th May 19
US Economy to Die a Traditional Death… Inflation Is Going to Move Higher - 18th May 19
Trump’s Trade War Is Good for These 3 Dividend Stocks - 18th May 19
GDX Gold Mining Stocks Fundamentals Update - 17th May 19
Stock Markets Rally Hard – Is The Volatility Move Over? - 17th May 19
The Use of Technical Analysis for Forex Traders - 17th May 19
Brexit Party Set to Storm EU Parliament Elections - Seats Forecast - 17th May 19
Is the Trade War a Catalyst for Gold? - 17th May 19
This Is a Recession Indicator No One Is Talking About—and It’s Flashing Red - 17th May 19
War! Good or Bad for Stocks? - 17th May 19
How Many Seats Will Brexit Party Win - EU Parliament Elections Forecast 2019 - 16th May 19

Market Oracle FREE Newsletter

U.S. House Prices Analysis and Trend Forecast 2019 to 2021

Sheffield MP's Expenses Claims, Abuses, Facts and Figures

Local / Sheffield May 16, 2009 - 10:49 PM GMT

By: Nadeem_Walayat

Local

Best Financial Markets Analysis ArticleUpdated - 24th May 2009 - The Telegraph's day by day drip, drip release of MP expenses continues to claim scalps in response to outrageous claims which mainly centre around the flipping second residencies for the payment of mortgages and to enable multiple properties to be renovated and furnished at tax payers expense has angered voters that are especially seeking to punish Labour MP's (Polling 20% record low) who for decades had rammed down the throats of voters how they had socialist ideals, whilst their actual action's increasingly paint an opposite picture.


If MP's were ever in any doubt as to the outrage in public opinion then the recent BBC Question Time programme held in Grimsby 'should' have made it crystal clear as the following exchange between the audience and Margaret Beckett illustrates (after the MP attempted to justify the £72,000 that she claimed in expenses) :

" I am just very Angry Mr Dimbleby,"

"Mrs Becket are you going to pay back the £72,000 that you have taken after your mealy-mouthed answer trying to explain yourself, and Mr Campbell how the hell do you get through £800 a month on food?"

 

"No I'm Not, because as I pointed out a moment ago...."

The audience boo's, jeers and heckles Margaret Beckett's mealy-mouthed excuses.

The full programme is available now to watch on BBC Iplayer.

With serious voter discontent, MP's are starting to scramble over one another to either repay monies, or publish their own expenses before the Telegraph names and shames them. Meanwhile the five Labour Sheffield MP's fearful of voter backlash issued a joint statement that "in the interests of transparency" would soon publish details of their own claims. However summary headings of expenditure cannot substitute for details recorded on the actual receipts themselves which may paint a totally different picture.

The following tables show the total amount claimed in expenses by all 6 local Sheffield MP's, which I will seek to update as and when the Telegraph publicises any details on the second home expenses category which probably exist given the extent of the value of total claims as listed below:

Nick Clegg - Lib Dem - Hallam Consistency

Total Expenses Claim 2007-08
£149,020
2nd Home Expenses
£23,083
Office, Staffing, Stationary and Comms
£118,851
Travel
£7,092
Telegraph Scoop Expenses Details  
Claimed Stamp duty and legal costs on constituency home purchase
£9,244
Furnishings and fittings
£8,300

At the last Election Nick Clegg won 51% of the vote (20,710), with Conservatives second on 30% (12,028) and Labour third on 13% (5,110), therefore Nick Clegg has a majority of 8,642 with most recent polling data suggesting that he is not under any serious risk of losing this safe Lib Dem seat at a general election.

Clive Betts - Labour - Attercliffe Consistency

Total Expenses Claim 2007-08
£163,255
2nd Home Expenses
£23,083
Office, Staffing, Stationary and Comms
£128,125
Travel
£12,049
Self Publicised Expenses  
Carpets
£1,268
Two Sofa's
£1,500
Wardrobe
£700
Bed for Bad back
£1,100
LCD TV
£700
Mortgage Interest on London Flat over 3 years
£36,000
Leather Arm chair
£800

Links to Actual Claims made including receipts

ACA 0405ACA 0506ACA 0607ACA 0708CA 0708IEP 0405IEP 0506IEP 0607IEP 0708

Telegraph Expenses Analysis - Pending  

At the last General Election Clive Betts won 60.1% of the vote (22,250), with Lib Dems second on 17% (6,283) and Conservatives third on 14% (5,239), therefore Clive Betts has a strong majority of 15,967 in a Labour heartland seat and therefore does not appear to be under any serious risk despite the extremely poor opinion polls of losing his seat at a general election.

An analysis of how the expenses abuse came about puts Clive Betts right at the heart of the matter when back in 2001 he tabled an amendment on the additional costs allowance to increase MP expenses from the then £10,000 for mortgage interest which subsequently now covers everything under the sun. The amendment was passed overwhelmingly with backbenchers over riding their front bench advice. Read Clive Betts 2001 speech, Also see which MP's voted for the expenses gravy train.

Angela Smith - Labour - Hillsborough Consistency

Total Expenses Claim 2007-08
£150,240
2nd Home Expenses
£22,843
Office, Staffing, Stationary and Comms
£128,125
Travel
£10,904
Self Publicised Receipts Analysis
Sofa Bed
£950
Dining Table and Chairs
£635
Rug
£350
Food - Per month
£133
Mortgage Interest per month
£1269
Furnishings
£1,500
Stamp Duty
£4,496

Link to Self publicised Expenses record including receipts

Telegraph Expenses Analysis
Claimed for 4 beds for a 1 bedroom flat, and furnishings
£7,800
Two digital cameras
£635
Office Supplies over 3 years
£54,000

Angela Smith was elected to parliament at the last General Election with 51.2% of the vote (23,477), with Lib Dems second on 27% (12,234) and Conservatives third on 15% (6,890). Given the lack of swing in the polls to the Lib Dems, this suggests that Angela Smith's strong majority of 11,243 in a Labour heartland seat does not appear to be under any risk of losing her seat.

David Blunkett - Labour - Brightside Consistency

Total Expenses Claim 2007-08
£147,572
2nd Home Expenses
£23,083
Office, Staffing, Stationary and Comms
£121,434
Travel
£3,055
Telegraph Scoop Expenses Details - Pending  

 

 

Richard Caborn - Labour - Central Consistency

Total Expenses Claim 2007-08
£157,059
2nd Home Expenses
£21,755
Office, Staffing, Stationary and Comms
£119,238
Travel
£16,066
Telegraph Scoop Expenses - Pending  

 

 

Meg Munn - Labour - Heeley Consistency

Total Expenses Claim 2007-08
£144,354
2nd Home Expenses
£23,083
Office, Staffing, Stationary and Comms
£110,042
Travel
£11,233
Telegraph Scoop Expenses - Pending  

 

 

The most recent poll for the Mail on Sunday puts Labour on just 20%, Conservatives on 42%, Lib Dems at 15%, this would result in a landslide Conservative general election victory of over 200 seats. The situation for Labour is even worse for the European Elections with UKIP level with Labour at 17%, Conservative 30%, Lib Dem 15%.

Current Yorkshire & Humberside MEP's

  • Linda McAvan (Labour)
  • Timothy Kirkhope (Conservative)
  • Diana Wallis (Liberal Democrat)
  • Godfrey Bloom (United Kingdom Independence Party)
  • Richard Corbett (Labour)
  • Edward McMillan-Scott (Conservative)

Results of Last European Election 2004 - 1573201 votes, (approx 43% of the total number of eligible voters) :

  • Labour 26.3%
  • Conservative 24.6%
  • Lib Dem 15.6%
  • UKIP 14.5%
  • BNP 8%
  • Green 5.7%

European Election Forecast

The European voting system suggests the following results on the basis of the most recent opinion poll.

  • Conservative 2-3 seats
  • Labour 1 Seat
  • Lib Dem 1 Seat
  • UKIP 1 Seat
  • BNP 0-1

By Nadeem Walayat
http://www.marketoracle.co.uk

Copyright © 2005-09 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 20 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis specialises on the housing market and interest rates. Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication. We present in-depth analysis from over 250 experienced analysts on a range of views of the probable direction of the financial markets. Thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

Lynn
16 May 09, 23:23
MP Expenses

In general it has been pretty shocking. I assumed early on this would be press hyped with little substance but there is no way/need to hype the fact several politician have claimed expenses for mortgages they completed and described it as a 'mistake'.

Surely that's gross negligence? How on earth can you be trusted in a position of power when don't even notice £15k worth of free money building up in your account?

Seems the conservatives have set the bar now by promising to publish all expenses. I guess Gordon has no real option but to do the same now.

PS Did anyone watch 'Have I got news for you' last night? brilliant bit of archive footage they showed of an MP laughing about his expenses claims on the show a year ago, then cut to apologising and claiming it was all an oversight.


Former Labour voter
17 May 09, 09:13
Labour Mp's

As a labour voter i am disgusted that at a time when we are losing homes,jobs ,savings...etc

our mp's (euro,local-- lab,tory etc) have their heads that deep in the money trough -paid for by taxpayers.

is this democracy or just a private club for greedy toffs.

who will i vote for next time?

none of them i have lost all faith in our political system.


DT
17 May 09, 09:35
Expenses System

I don't think the expenses system is at fault - if these scroungers were conscientious people who knew what public duty was and were not in it to line their own pockets, it wouldn't be an issue, as the many decent MP's who have restrained themselves have proved.

Whatever new system that is introduced, these people will always bleed it dry.

What needs to be done is sack any MP discovered to have cheated, force them to repay what they took, and bar them from ever standing as an MP again, just to make sure they do not do a Mandelson.

Standing in the Commons is a huge privilege - maybe if a few more of them felt that, they might behave themselves.


Sorroya
17 May 09, 13:45
Scroungers

Anyone else think MPs are total scroungers? Scrap all this allowences, pay them a salary and if they want to put new bathroom in, make them pay for it like WE DO.

I hate this country, its a total joke, everything needs reforming from the NHS to Benifits. To be honest i'll probably vote BNP in the elections just to prove a point.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules