Lord Farmer, a hedge-fund boss and Conservative donor with a reported personal fortune of around £150million, said the £300 daily allowance claimed by some House of Lords peers was ‘inadequate’.
Why? He says: because many of them could be earning more money elsewhere so they are taking a hit in earnings if they attend
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Then let these lords resign their seats to concentrate on their business interests, and save the money or alternatively let a few folk for whom £300 a day is a very good living sit in the House of Lords instead.
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