How to make a million in five years

There was an interesting article in the Times on Sunday by David Craig, author of 'The Great European Rip-Off', looking at the many and varied ways in which MEPs can (and apparently do) generate vast amounts of cash for themselves above and beyond their hefty salaries.

He claims that MEPs can pocket up to a million pounds over a five year term, even while living the high life, and even after the so-called expense reforms introduced recently:

Becoming an MEP is a bit like joining a millionaires’ club – you can easily live like royalty and still walk away with more than £1m saved up in your bank account from serving just one five-year term at the European parliament.Get elected twice or more and you can become a multi-millionaire.

While it is indeed very revealing, I think that the emphasis of the article is in the wrong place. Yes there are going to be some MEPs who employ their wives/husbands and others who abuse their expenses. These are indeed deplorable, but it's the system we should be attacking more. Why is it that the EU is so frivolous with our money? How have they convinced themselves that this is an acceptable system? 

If they can't be trusted to look after our money in an area of such public and media interest (politicians' expenses), where they are likely to be scrutinised closely, what horrors await in the less public areas where billions of euros are spent away from prying eyes?

One aspect of EU reform that Libertas will be tackling is 'Value for Money'. It's time that the elites in Brussels remembered that they are servants of the people, not a European nobility entitled to be pampered, chauffeured and deferred to. We have to bring an end to the culture of financial mismanagement and indifference in the EU. Every penny (or cent) of our money should be used properly and give value for money. We need a new culture of thriftiness.

 

There was a similar article in the Telegraph by Matthew Elliott, the other author of 'The Great European Rip-Off', that revealed that a leaked auditor's report showed widespread corruption in the Parliament. 

"Taxpayers deserve to know how their money is being spent, and if anyone is stealing from them. The EU Parliament must publish the full details of all MEPs' expenses and allowances, and name the people this report found to be ripping taxpayers off."

So not only does the Parliamentary system allow wide spread abuse, it is now hiding the names of those it has discovered milking the system. How are we ever supposed to trust the EU when it harbours crooks in its ranks? Yes, it will be damaging to the EU in the short term, but not as damaging as protecting MEPs who are scamming the system in the long run.

Remember the cautionary tale of  UKIP MEP Tom Wise. He unwittingly boasted to an undercover reporter about how much cash he was making.  This is how the public see our MEPs, and unless action is taken to stop this kind of excess, the EU is going to continue to damage public trust in politicians. At the moment they simply don't deserve our trust. It's time for some fresh blood in Brussels. 

[Addition]

There is an interesting addition at the end of the Telegraph  article:

Chris Davies, the Liberal Democrat MEP who last year exposed some of the report's findings, last night said..."Honesty doesn't pay in this system and the temptations are great. No-one knows who is cheating and who is not, and it is a disgrace that the Parliament has voted to keep auditors' reports secret."

This is a laudable sentiment, but entirely at odds with his own party leader's declaration that the European Parliament should "stymie" its critics. So which is it? Is it OK to criticise the EU as long as you are a Liberal Democrat, or is Mr Davies parting ways with his party leader, Graham 'ever-so-popular' Watson?