Intended Or Unintended Consequences

If ever there was a contradiction in just 14 letters, here it is……‘MP Transparency’.

 

I wrote about the issues with the lack of transparency with MP’s business and family business interests (Tax Transparency: http://stevesmithlive.blogspot.co.uk/2016/04/tax-transparency.html ) back in April 2016. This lack of openness always leaves me questioning the real motives behind how an MP votes…….For the greater good? For their own good? For the good of their family?

 

There are always intended / unintended consequences of how an MP votes in that it will impact their own financial affairs or that of their family in an intentional or unintentional way.

 

A recent report from The Times has brought this topic right back on the agenda again with an article relating to George Osborne. Let’s be really frank here, if anyone needs to be transparent with their business and family business interests it has to be the Chancellor of the Exchequer. We have to trust without any doubt that tax changes, economic policy changes, stimulus measures, etc. are for the good of the UK.

 

Yet did you know that Osborne is a shareholder in a high-end wallpaper and furnishing company (Osborne & Little) and held the shareholding during his time as an MP and Chancellor of the Exchequer?

 

Osborne was part of the Conservative Prime Minister David Cameron's team that campaigned to keep the UK in Europe last year. The 'Remain' camp was slammed for scaremongering voters with warnings of mass job losses and tax hikes if the UK left Europe. Interestingly, ‘remain’ was also the right decision for his business interest in Osborne & Little due to their overseas trading.

 

Just one small example of how the lack of transparency raises questions and doubt. We have 650 MP’s that have a similar lack of openness.  

 

If we are going to restore faith in the political system and MP’s individually, let’s raise the bar on transparency and get MP’s to publish their business and family business interests on their websites. We can then all make educated judgements as to whether the consequences of their voting are intended or unintended.

 

Not too much to ask is it?