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MPs boost earnings through property

The latest House of Commons register of interests shows that many MPs are using property to boost their earnings.

The register shows that many of the MPs own homes from which they receive rent.

Half of the cabinet ministers also benefit from property earnings, including prime minister David Cameron and chancellor of the exchequer George Osborne.

Both Osborne and Cameron own properties in London from which rental income is received.

Jeremy Hunt, culture secretary, has a half-share in an office building in London. Caroline Spelman, environment secretary, has a part-share in residential properties in London and Bath. Francis Maude, cabinet office minister and David Willetts, universities minister, also benefit from rental income.

Cabinet ministers earn £135,000 a year, meaning they need outside earnings of just £15,000 to take them into the top tax band.

Both Cameron and deputy prime minister Nick Clegg have talked of the possibility of MPs having to become transparent about their tax returns.

Ian Lidell-Grainger, the Tory MP who heads the all-party group on tax, said: “It is an abominable slope. In America the politicians publish their tax returns and what good has it done them? None.”

nick.whitten@estatesgazette.com

 

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