Labour is in no fit financial state to fight the next election because it has been "bankrupted" by the cash for honours affair, senior Labour MPs have warned.I think we see why state funding of political parties is suddenly on the agenda.
MPs, including those on Labour's ruling body, say the party does not have the cash to pay back almost £10m in loans due to be repaid this year.
Labour figures are also bracing themselves for a massive legal bill for advice to party figures caught up in the police investigation into cash for honours.
The scale of Labour's debt is so large that all money coming into the party, which could have been channelled to vulnerable seats, will have to be diverted to pay off a huge number loans.
Liberal Democrat Blog of the Year 2014
"Well written, funny and wistful" - Paul Linford; "He is indeed the Lib Dem blogfather" - Stephen Tall
"Jonathan Calder holds his end up well in the competitive world of the blogosphere" - New Statesman
"A prominent Liberal Democrat blogger" - BBC Radio 4 Today; "One of my favourite blogs" - Stumbling
and Mumbling; "Charming and younger than I expected" - Wartime Housewife
Sunday, January 07, 2007
Labour in the red
A cheering story from today's Independent:
And no Rowntree Foundation to bail them out .... by the way, have the Lib Dems paid back Brown's ill-gotten gains yet?
ReplyDelete