Best Financial Markets Analysis Article The following is an analysis of Angela Smith, the MP for Hillsborough (Sheffield) receipts (including links to actual expense claims and receipts) published in advance of the Daily Telegraphs own reporting which is also included below :

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

A 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%.

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.

Voter Outrage

The outrage of voters was most clearly evident in the recent BBC Question Time programme held in Grimsby 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.

Part of the programme is available to watch on youtube.

European Elections - June 4th

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

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.

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