There is a scandal raging in the UK about the expenses of members of Parliament, including the way some honorable members have claimed mortgage assistance.
It seems that there has been a very lax system of expenditure control, as a result of which some MP's have milked the system for all it's worth. There are even instances of phantom mortgage claims. Astonishingly, it has been suggested by the British Daily Telegraph, which has launched a campaign into the mortgage scandal, that several MP's were offered opportunities to claim phantom mortgage payments.
As the name suggests a phantom mortgage is about claims against a mortgage that has already been paid off. The Telegraph has suggested that although phantom mortgages were eventually discouraged around 2004. those MP's who benefited have not been asked to pay the money back. However, they are like rabbits caught in the spotlight, and it may not be long before they are named and shamed.
Dodgy mortgage claims are just part of an expenses scam that is currently tainting British politics. It would be an understatement to suggest that the public at large are disgusted at the conduct of some of their representatives. The economy generally is in a bad state, and many people have had to tighten their belts or worse. There have been many job losses and mortgage foreclosures, and the last thing people want when they might be experiencing genuine mortgage difficulties of their own, is avaricious excesses by those in public office.
Of course, not all Members of Parliament have acted dishonorably, but some of those who have, suggest that they have not broken any rules but are part of a rotten system. The public find this hard to swallow, and it seems that whenever there is a general election, which must be within the next 12 months or so, they will get a chance to 'get their own back' by sweeping many of their representatives out of office.
The phrase 'getting their own back' seems particularly apt, because MP's expenses are met from public funds. Some party leaders are requiring some of their own MP's to pay some of the money back, but presently that seems to be only the tip of the iceberg, of a story that is set to run and run.
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British MP's Mortgage Fiddle
British MP's Mortgage Fiddle
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