Thursday 8 May 2008

"Labour in talks to delay paying off £10m loans"

Superficially, this is great stuff. The Labour is insolvent to the tune of about £20 million and are trying to stave off the inevitable. As the article explains, things are so bad that one candidate turned down the job of General Secretary and they are going to give this to a trade unionist instead. According to rwendland at Labourhome, the auditors may well refuse to sign off the Labour party as a going concern.

Unfortunately, they can still help themselves to over half of the £350 million of taxpayers' money that finds its way into the parties' pockets or is spent on party propaganda each year, so we can't write them off quite yet.

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