Labour £27m in red after election

Discussion in 'Current Affairs, News and Analysis' started by ABrighter2006, Jul 18, 2006.

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    ...Two of Labour's lenders have indicated the money must be repaid when the term of between 180 and 365 days comes to an end.

    Others have agreed to reschedule their loans to "future periods", said the report published with the annual accounts.

    Mr Watt and Mr Dromey insisted the accounts provide Labour with "a stable financial platform for the foreseeable future".

    But they also revealed the party has embarked upon "an active programme of cost containment" to reduce the size of its debt.

    How strange, an entire article discussing this, and yet not a single mention of Lord Levy by the BBC. Is the BBC now taking on the realms of Harry Potter's Lord Voldermort - "He who must not be named" mantra?
  2. What grips my sh1t is that these parties what to run the country but cannot get their own finances in order.

    I work in a credit control environment and if a company wanted to open a credit account with a set of accounts like this they'd soon be given a fcuk off pill.
  3. The Tories aren't any better. If they were business's they would be in receivership.

  4. Unless I've missed it, he's not mentioned in the Sky News, Bloomberg or Daily Telegraph coverage either. Must be some kind of conspiracy.
  5. Absolutely right and Andyroo's observation is true also. If these were private organisations operating in the financial climate that we have HMG to thank, methinks that the FD would be barred from being a director.

    It also brings out the point that until parties spend only secured funds that "he with the money will gain power" - what chance independant MP's trying to compete with the scale of marketing spend. It wouldn't be so bad if the money Labour had spent on marketing it's manifesto had actually been realised by the party sticking to it's manifesto.

    Rant over!
  6. And remember they want you the the tax payer to fund their parties!
  7. Gosh...financially AND morally bankrupt?
  8. By all accounts they owe £18m. Anybody know what the Liberals owe? (just as a matter of 'interest' really (pardon the pun)).
  9. The next thing they will want is state funding.

    If we let them get away with that we may as well pack up.