Financial implications of the Bill
88 The Bill’s principal effect on public expenditure stems from the fact that it will lead to the retention of 650 constituencies, rather than these being reduced to 600 at the next general election, as would happen if the existing legislation remained in place and the 2018 boundary review was brought into effect. Reducing the number of MPs by 50 would result in savings in terms of MPs’ salaries and accommodation, staff, travel and subsistence costs. These savings will no longer be made.
89 There are also savings associated with the measures in the Bill. These include savings made by avoiding winding-up payments and budgets for 50 MPs and associated staff redundancies, and by the reduced boundary review costs that result from moving to a less frequent, eight-yearly boundary review cycle.
90 Cabinet Office analysts estimate that the public expenditure implications of the Bill, taking into account these savings (but not the non-monetised benefits of the bill) is approximately £116m over ten years, adjusted for inflation.