Gordon Brown's, Illuminated party in deep dept

 
 

Jewish Tycoons tell Labour: pay us back now.
Robert Winnett and Jonathan Calvert
TWO businessmen have demanded immediate repayment of their secret loans to Labour, threatening financial crisis for the party.NFOSource

However, yesterday a source said: “It is now clear most of them [the lenders] are going to have their money back. They are already calling the loans in.” The only lenders said to have indicated to the party that they will extend the terms of their loans are the four men put forward for peerages — Sir David Garrard, Sir Gulam Noon, Barry Townsley and Chai Patel. Their nominations were blocked by the House of Lords Appointments Commission which vets potential peers.


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.)

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