‘Winding down’ funds for MPs who lose seats set to double

MPs who lose their seat on the subsequent common election will obtain double the monetary assist.

Winding-down funds designed to assist departing MPs shut their workplace and handle the departure of employees can even now be obtainable to those that step down on the election.

MPs obtained two months’ wages after dropping their seats on the earlier common election, however the Independent Parliamentary Standards Authority (IPSA) – which governs MPs’ bills – has dominated that ought to be elevated to 4 months.

The funds won’t be made to MPs who decide to face down earlier than an election interval.

IPSA stated the choice was made as a result of the time to totally shut down a MPs’ parliamentary and monetary affairs was longer than the time coated.

The ruling stated: “Former MPs will continue to have access to their normal budgets (pro-rated) for that four-month period, and they will continue to employ staff as needed to assist them in winding up their affairs.”

MPs who’ve served greater than two years are additionally eligible for loss-of-office funds with longer-serving MPs receiving bigger quantities.

The funds, just like redundancy packages, will likely be obtainable to all eligible MPs who go away parliament on the subsequent election.

MPs are paid an annual wage of £86,584 earlier than tax. Some 71 members have already introduced they won’t stand on the subsequent common election, anticipated within the autumn of subsequent yr.

For these MPs alone the brand new guidelines imply an extra invoice to the taxpayer of £1,024,576.66.

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