Just posted the following comment to John Redwood’s Blog

MPs Expenses are (highly symbolic) distraction. If each MP’s cost us £300k each, 650 MPs cost £195m, or 0.03% of total government expenditure. A 50% saving on MP’s costs will be less than 0.1% of the total we need to save. Conservatives should be Machiavellian on this. David Cameron should remove the party Whip from the 3 worst offenders (according defined criteria, including failure to recognize their waywardness), forgive the rest (after appropriate admissions and apologies) and move on. That would set a clear precedent for the Prime Minister to follow.  

Further, it would also show David Cameron to be able to make decisive and bold moves for the sake of the country, even if it means losing some friends on the way. With unprecedented cuts to be required in public expenditure when he enters office, this would increase his stature for much bigger battles ahead.