The House of Lords agreed on 24 June 2010 to the restrict limit the payment of Cranborne Money to the Opposition and the office of the Convenor of the Crossbench Peers from 12 May 2010.
The rates payable for the 2010-11 financial year are as follows:
- £55,695 for the Conservatives from 1 Apr – 11 May 2010
- £27,808 for the Liberal Democrats from 1 Apr – 11 May 2010
- £440,129 for Labour from 12 May 2010 – 31 March 2011
- £63,687 for the office of the Convenor of the Crossbench Peers from 1 Apr 2010 – 31 Mar 2011
The amounts payable are up rated annually in line with the retail prices index and are subject to independent audit.
Under the previous agreement the largest Opposition party, the second largest Opposition party and the office of the Convenor of the Crossbench Peers were eligible to claim different amounts to cover expenses for the financial year.
‘Cranborne money’ refers to the financial assistance available to Opposition parties to help them fulfil their parliamentary duties.
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