Gordon Brown's, Illuminated party in deep dept
Jewish Tycoons tell Labour: pay us back now.
legislation must cover political funding. The most important part of
the proposals of the Neill committee is the national limit on spending.
I heard what the Home Secretary said on that; he is going to accept it.
The Neill committee makes a powerful case. The table on page 43 makes
one point clear. In cash and real terms, the spending of the two main
parties at each election has been increasing. In 1997, the Conservative
party spent about £28 million on the general election campaign and
the Labour party around £26 million. For both parties, that was
an increase of more than 100 per cent. since the 1992 general election.
It also means that election spending, on the latest basis, is about equal
for both major parties. NFOSource
Jack Dromey, the Labour party treasurer, said he believed people around Blair “consciously” sought to exploit loopholes in the law by raising cash for the party through loans rather than donations.
Lord Heseltine, the Tory former deputy prime minister, described the loans-for-honours scandal as “one of the most corrupt situations” he had seen in his political lifetime. Transparency International, an anti-corruption watchdog, has sent a dossier to Scotland Yard claiming that more than seven separate offences, including bribery and conspiracy to defraud, may have been committed by party officials in the scandal.
Labour is now preparing to sell its Westminster headquarters, valued at £6m, to plug the black hole in its finances. However, the party is understood to have an outstanding mortgage of £5.5m from the Co-operative Bank so the sale will raise only £500,000. It is thought not to have any other saleable assets. (It may be suggested to move to Deptford since it's down the river.)