It was an odd week to bring the curtain down on Act 2 of the ‘Great Expenses Saga” – the first Act of course being the revelations about the lax and incomprehensible system that had developed over the past 20 years.

On Wednesday Sir Christopher Kelly, the Chair of the Committee of Standards in Public Life delivered his long awaited, but much leaked, report on future expenses to a packed House of Commons. Whilst much of the detail was already known somehow the confirmation made MPs realise that things would never be the same again. One retiring MP muttered as he left the Commons chamber “Parliament is finished!” An over-reaction perhaps, but certainly the new parliamentarians will face a far more austere regime than when I entered the House in 1997.

No longer will MPs be allowed to purchase homes, only rent accommodation or stay in affordable hotels, whilst the costs of furniture, equipment and white goods will have to be paid for privately. Many MPs, especially those in outer London, will receive no support other than travel; making the long journey home each night. The ability to ‘flip’ homes to avoid capital gains will be rightly outlawed. Importantly, capital gain from existing properties will have to be returned to Parliament where there has been investment from the public purse. No longer will members be allowed to employ spouses or children and access to unlimited first class travel will be stopped. And the current generous re-settlement grants will be reduced to a maximum of two months salary.

It would be fair to say that the proposals were not greeted with universal approval! That there is any alternative but to adopt them, however, would be absurd and that fact at least was grasped by Brown, Cameron and Clegg who immediately accepted not only the proposals but ruled out any interference from Parliament at all. Absolutely right! The majority of MPs will be adversely affected by the new arrangements but to cherry pick the proposals as if they were somehow a menu of choices would plunge parliament back into ridicule.

To put the new arrangements into practice there is to be a new ‘Independent Parliamentary Standards Authority’ (IPSA) to take the Kelly proposals as the blueprint to frame final decisions.

Hardly the end of Parliament but certainly the end of an era.

Of course change comes at a price and no one expects the new system to save money! Re-organisations and new authorities rarely do. In fact the announcement that caused the biggest reaction on Wednesday was not Sir Christopher Kelly’s Report but the revelation by the Speaker that the Chair of IPSA – Professor Sir Ian Kennedy will receive a salary of £100,000 per annum!

For me and indeed for many colleagues leaving Parliament next year the new arrangements will make little difference. Like many colleagues of all political persuasions I have never employed my spouse or family, never flipped homes, never avoided capital gains tax, did not know there was a re-settlement allowance and had already committed to returning capital gain to Parliament when my second home is sold, as well as any payments requested by Sir Thomas Legg.

The Kelly Report was published on the eve of November 5th – a somewhat inauspicious day for Parliament. If his recommendations are not agreed and implemented swiftly I suspect Guy Fawkes may have reason to return!