Spanish property with no capital gains tax...

The McBroon Muppet Speaker, spent longer attacking the Daily Telegraph for revealing the House of Horrors expenses slapped in by MPs, than he did detailing plans to clean-out the stables. The supposedly “independent” blustering Michael Martin did find time to slag off two of the more honest MPs who tried in vain to influence his plans.

Over 50s, used to more gentlemanly times in the so-called Mother of Parliaments, might recall occasional scandals involving individual Members, but never, seemingly, anything involving so many snouts – including the high falutin’ Martin himself - in the trough. Avoiding capital gains, on second homes, as achieved by many MPs, is now available to property in Spain

The McBroons and Speaker Martin had planned to slip out censured details of MP’s expenses in the middle of the summer when families would be on their hard-earn holidays in Spain or focused on buying a place in the sun away from mired Britain.

But the Telegraph thought UK residents should know how they have been taken for a ride by their elected ones before the crucial local elections next month, so they could X-out any hopes the McBroons might have of saving their last handful of local councils or getting any more of their ilk onto the EU gravy train.

Only hours earlier the first “Sorries” were uttered by the party leaders, who again blamed the system, but neither suggested that the tax-payers should get their money back where dodgy deals were involved.

Meanwhile, more over-50s and pensioners, were deciding to explore the prospects for a bargain property purchase in Spain with an option for avoiding payment of any capital gains tax emulating the flipping MPs.

Yes, Brit buyers can legally avoid capital gain tax and inheritance tax on property in Spain if they buy through Libertad (Freedom) sponsored by the leading property specialists in Spain and Spanish banking partners.

Tax breaks for Brits in Eur 20B Spain package

As the UK's McBrown crew gets back from the seaside to stop the nation's economy sinking beneath sunami waves, Brits abroad are already benefitting from anti-inflation tax breaks produced by the Spanish government - and Brits planning to move to Spain can grab theirs right away.

It seems there is no mañana where the rescue of the Spanish economy is concerned...

Expatriates in Spain benefit from a raft of new measures which include the abolition of wealth tax and inheritance tax as part of a package of 24 incentives to boost the country’s flagging economy.

While Prime Minister, McBrown schemed in Suffolk, Prime Minister Jose Luis Rodriguez Zapatero left his Costs holiday and announced the €20 billion (£15bn) plan after an emergency meeting with ministers.

One of the key measures is a bid to increase consumer spending with a €400 tax rebate to 16 million workers and retirees. Others include abolishing inheritance tax and opening up the service sector to be more like Britain.

There will also be more money for subsidised housing to boost the construction industry, cuts in bureaucracy to aid small and medium-sized businesses and speedier approval of new public works.

The abolition of wealth tax fulfils one of the Socialist party’s pre-election promises from 2004. Wealth tax will no longer be levied on any property purchased after January 2008, regardless of residency.

The move comes as Spain’s GDP growth slows dramatically, a trend which is set to continue in 2008 and 2009, before a predicted 3% rise in 2010 - according to government figures. Inflation rose 0.3% in July to 5.3%, the fastest annual rate for 15 years. It is well above the eurozone average rate of 4.1%. However, Pedro Solbes, the Spanish economy minister, said that inflation could fall to 4% by the end of the year if oil prices continue to come down.

Prospects for property buyers in Spain? Grab the developer discounts, Spanish bank repossessions, Senor Z's tax breaks, have a great time in the sunshine and check back on Britain after the next election....