| 14.1°C Belfast

Sinn Fein set to save £700,000 after double-jobbing move

New financial regulations at Stormont meant that Sinn Fein would have lost more than £700,000 in expenses had they not ordered its five MPs to quit as MLAs, it has emerged.

A redrafting of expenses by the Report of the Independent Financial Review Panel will progressively reduce the average £70,000 in office expenses MLAs receive.

If the Assembly member is also an MP they received 50% back but that was already cut to 37.5% in April - some £27,594 - with further payouts being reduced to 25% next year and to just 12.5% the following year.

With four of Sinn Fein’s MLAs quitting the Assembly to focus on their MP duties at Westminster and Deputy First Minister Martin McGuinness quitting as an MP the party will benefit from five full Office Costs Expenses allowances.

Belfast Telegraph