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‘Winding down’ payments for MPs who lose their seat at next election to be doubled | Politics News

MPs who lose their seat at the next general election will receive double the financial support following a ruling from parliament’s expenses watchdog.

MPs who are forced out in an election defeat have previously been entitled to two months of financial assistance to help close their office and manage the departure of staff, but the Independent Parliamentary Standards Authority (IPSA) , which governs MPs’ pay and expenses, has now ruled that should be increased to four months.

The so-called winding-down payments will now also be made available to those who choose to stand down at the next election – although payments will not be given to MPs who have stood down outside of an election, such as former prime minister Boris Johnson, who stood down in June.

The rule change means the winding-up payment will be paid to all MPs who leave parliament at the next election – whether they lose their seat, stand unsuccessfully in a new or different seat or stand down.

As of April this year, MPs are paid an annual salary of £86,584.

IPSA’s ruling comes following the confirmation of 75 current MPs that they will not be standing at the next election – including 50 who were elected as Conservatives.

For Labour, 14 MPs are stepping down, while seven from the SNP will not seek re-election.

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IPSA, which is an independent body, said it made the decision because the time to fully close down a MPs’ parliamentary and financial affairs was longer than the time covered.

“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,” the ruling said.

As well as winding down payments, MPs who have served more than two years are also eligible for loss-of-office payments, with longer-serving MPs receiving larger amounts.

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This notice was published: 2023-08-25 07:30:00

By Sky News

Sky News is a British 24-hour information television channel, the first in Europe of its kind, launched on February 5, 1989 by the British Sky Broadcasting Company.

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