How is this even allowed? Osborne has announced he's the new Evening Standard editor but will not step down as an MP. His seat goes at the next GE due to boundary changes so for the next two and a half years or so he takes the piss out of his constituents and the tax payer taking the MP's salary and boosting his pension to boot!!
Tristram Hunt took one new job and had the good grace to stand down FFS
Because he is, like the majority of MP's, a greedy fucker
Resettlement Grant and Winding-up Allowance
On leaving the House of Commons, an MP will be entitled to what is essentially severance pay.
Resettlement Grant
The Resettlement Grant is the name given to the MPs' severance pay package. It may be claimed to help former MPs with the costs of adjusting to life outside parliament.
It is payable to any Member who ceases to be an MP at a General Election. The amount is based on age and length of service, and varies between 50% and 100% of the annual salary payable to a Member of Parliament at the time of the Dissolution.
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In the UK the first £30,000 of severance pay is tax free. As stated above, the amount retiring MPs, or those who lose their seats receive, depends on how old they are and how long they have served in the House. For example, an MP who stays in office for one term (say 5 years) and then leaves office will currently receive tax-free severance pay of 50% of his current salary, or £32,383 at current rates – equivalent to an annual salary increment of over £12,000 at current tax rates and pay scales.
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For the 2010–15 Parliament, only MPs defeated in their attempt to be re-elected will get one month’s salary for each year served, up to a maximum of six months or over £33,000. From the start of the 2015 Parliament, it will be replaced by a "Loss of Office Payment", at double the statutory redundancy payment. "For the 'average' MP, who leaves office with 11 years' service, this may lead to a payment of around £14,850."
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Winding-up Allowance
There is also up to £42,000 on offer to pay for winding up staff contracts and office rent.An allowance of up to one third of the annual Office
Costs Allowance was paid for the reimbursement of the cost of any work on Parliamentary business undertaken on behalf of a deceased, defeated or retiring Member after the date of cessation of Membership. On 5 July 2001 the House agreed to change the allowance to one third of the sum of the staffing provision and Incidental Expenses Allowance in force at the time of cessation of Membership
