Smart move by Nick Clegg on second homes

Just read on LDV quoting a Sam Coates story in The Times that Nick Clegg is going to propose that the capital gains from second home sales revert to the public purse when the properties are sold. He also wants to make sure that they cannot claim at all for mortgage interest payments, only rent.

Whilst there will doubtless be practical complications, I think these are great ideas in principle and they chime with what I have said in the past about needing to make sure that MPs do not benefit from the capital gains as they do at the moment.

Clegg also wants an end to the ability to claim for things like flat screen TVs and furniture and only be able to claim for utilities and council tax.

As Guido suggests, MPs are likely to be horriried by these proposals but something has to be done to restore public trust and Nick Clegg's proposals are exactly the sort of radical reform that is needed to do this.

It will be interesting to see how Gordon Brown and David Cameron respond to this smart move by Clegg.