Helston and West Cornwall MP Andrew George will pay back more than £22,000 worth of profit from a taxpayer-funded London home.

Mr George, who has sold the property, has already paid £12,534.20, leaving an outstanding bill of £10,000.

The information released by the The Independent Parliamentary Standards Authority (IPSA) shows that Mr George has agreed a repayment schedule.

Mr George had claimed £20,859.96 in mortgage interest during the period.

In 2010, IPSA abolished the mortgage interest subsidy as part of the new Scheme for MPs’ Business Costs and Expenses in 2010. This meant that public funds would no longer support capital gains accruing to MPs.

As part of this decision, IPSA put in place transitional measures for MPs to move from the old arrangements to the new scheme. These measures included a provision that capital gains supported by public funds would be returned to the public purse.

A ban on claiming expenses to pay for mortgage interest costs followed public fury over "flipping" homes.

 

MPs who were elected before 2010 were allowed to keep claiming the money up to last August - as long as they agreed to return any potential capital gain.

Each property was valued at the beginning and the end of the period, and the MPs were given until November 30 to return a proportion of any gain.

During the 27 months, some 71 members received an estimated £1million in allowances for mortgage interest.

In total the MPs involved, which include four Cabinet ministers, owe almost half a million pounds to the Independent Parliamentary Standards Authority.

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