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

Meg Munn - Labour - Heeley Constituency

Total Expenses Claim 2007-08	£144,354
2nd Home Expenses	£23,083
Office, Staffing, Stationary and Comms	£110,042
Travel	£11,233
Self Publicised Receipts Analysis
Monthly Mortgage Payments	£1,539
Monthly Food bill	£200
Link to Self publicised Expenses record including receipts
Telegraph Expenses & Claims Analysis
Meg Munn's husband advised at least 7 MP's (including Meg Munn herself) on tax which they claimed as expenses and did not enter onto their self assessment reports as taxable income.	£5,000
Employs her sister-in-law in her constituency office.

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%.

Meg Munn was re-elected at the last General Election in 2005 with 54% of the vote (18,205), with Lib Dems second on 20% (7,035) and Conservatives third on 15% (4,987). Given the lack of swing in the polls to the Lib Dems, this suggests that Meg Munn's strong majority of 11,170 in a Labour heartland seat ensures that she is not at serious risk of losing her seat at the next election.

Ten Down, 190 more to Go?

To date 10 MP's have so far been forced to announce that they would step down at the next general election with the eventual total expected to reach 200 MP's between a mix of being forced to stand down or abandoning unwinnable seats (Labour). Unfortunately MP's that do not resign but cling on to step down or lose their seat at the next general election will receive a golden handshake of upto a years salary (£65k), a winding up allowance of £41k and a pension of upto £30,000 per annum. Therefore those that have been found with their hands in the tills have shown no shame whatsoever but still seek to milk the system that they themselves devised for maximum personal benefit at tax payers expense. Still things could be worse if we consider the fraud that takes place in the European Parliament and Commission that defrauds the European tax payers to the tunes of billions every year as annual accounts repeatedly fail audits and remain unsigned.

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.

Nadeem Walayat Archive

Comments

Mike
27 May 09, 08:58

Mp tax advise

So they devise systems to tax us, then they pay people to advise them how to avoid the taxes and charge us for the service they receive to avoid their own legislation.

Doesn't seem quite fair, does it?

Bob
27 May 09, 09:00

criminal activities

The public are sick and tired of hearing about more criminal activities

of their elected politicians. The sooner they are brought to book and arrested by the police the better. Otherwise regulatory authorities are further undermined eg HMRC and Metropolitan Police etc.

Politicians are NOT above the law. The public may not pay their taxes

or obey the law etc

V
27 May 09, 09:01

Munn

Yet another MP with her snout in the trough. And she employs her sister-in-law. Wonder if she's declared that?

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

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.