Golden goodbyes for MPs who lose seats more than double to £17,300

Golden goodbyes for MPs who lose their seats at the next election more than double to £17,300 under watchdog-approved changes designed to smooth handover to their replacement

MPs who lose their seat at the next general election will see their taxpayer-funded  golden goodbyes more than double in value to £17,300.

MPs received two months’ wages  – some £8,600 – after losing their seats at the 2019 general election, but the Independent Parliamentary Standards Authority (IPSA) – which governs MPs’ expenses – has ruled that should be increased to four months. 

The loss-of-office payments (Loop) will not be made to MPs who opt to stand down before an election period. 

Separate winding-down payments designed to help departing MPs close their office and manage the departure of staff – many of whom are also family members like spouses and children – will also now be available to those who step down at the election.

And for the first time both payments are being extended to cover MPs who lose after trying to stand in a different seat to the one they currently hold. Boundary changes which will come in at the next election meaning some constituencies are being split or merged, meaning some MPs have to move.

John O’Connell, the chief executive of the TaxPayers’ Alliance, said: ‘Doubling golden goodbyes for MPs is a kick in the teeth for taxpayers.

MPs received two months’ wages – some £8,600 – after losing their seats at the 2019 general election, but the Independent Parliamentary Standards Authority (IPSA) – which governs MPs’ expenses – has ruled that should be increased to four months.

Winding-down payments designed to help departing MPs close their office and manage the departure of staff – many of whom are also family members like spouses and children – will also now be available to those who step down at the election.

‘Hard-pressed Britons are already funding generous salaries, perks and pensions for elected officials. Ipsa should be mindful of that when recommending more taxpayers’ money for politicians.’ 

IPSA said the decision was made because the time to fully close down a MPs’ parliamentary and financial affairs was longer than the time currently covered.

The ruling said: ‘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 have served more than two years are also eligible for loss-of-office payments with longer-serving MPs receiving larger amounts.

The payments, similar to redundancy packages, will be available to all eligible MPs who leave Parliament at the next election.

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