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Minister rejects claims over home sale profits
A GOVERNMENT Minister from Yorkshire sold his taxpayer-funded second home for an £88,000 profit, it has emerged.
Housing Minister John Healey, MP for Wentworth, insists he paid capital gains tax on the profit after selling the London property – classed as his second home – and moving to a rented flat this year so did not pocket the full profit himself.
Mr Healey bought the flat in Lambeth for 110,000 and last year claimed 691 per month for mortgage interest. He sold the property for 198,000 and has now moved into the rented flat.
Last night, a spokesman rejected claims the Minister had made an 88,000 profit on the back of taxpayers and said he supported expenses reforms because the old system "rightly angered the public".
"John has paid full capital gains tax on the sale of the flat because it was his second home," said the spokesman. "The mortgage interest and some running costs were covered by the second home allowance, details of which he has published on his website since April 2008.
"Over the years John and his wife have themselves covered other costs in buying and maintaining the flat.
"In the 2007/8 financial year, John's second home allowance claims were ranked 423rd out of 620 MPs eligible for the allowance. In 2008/9, he claimed nearly 10,000 below the maximum allowed."
Mr Healey also sparked controversy this week after telling a Labour think-tank that renting could be better than buying.
What they claimed: Full alphabetical list of Yorkshire MPs
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Wednesday 15 February 2012
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