Prescott: "Labour faces bankruptcy"

Discussion in 'Current Affairs, News and Analysis' started by Bravo_Zulu, Aug 21, 2010.

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  1. Everybody's favourite pie-eating Peer has warned that the Labour Party, saddled with £20 million debts, could be in trouble: BBC News.
    How ironic; the financial illiteracy which gave us our national debt might be about to spell the end of Labour, or at least so one hopes.

    "Lord Prescott argued that the next Labour treasurer must be able to stand up to excessive demands for money from the party's leading lights.

    He said: "The treasurer has got to say to the central body, you cannot keep on spending, we haven't got it."

    A shame you didn't hit on that pearl of wisdom a few years back when Brown was printing money and throwing it into the wind, eh John?
  2. Don't worry, they've got a window licking spacker on the case.

  3. Good thing that they didnt win the election, maybe the pie eating lard barrel would have had designs on the job of chancellor. Lets face it he isn't going to improve party finances if he becomes treasurer!

    Edited to reflect his recent elevation (can he really be elevated, or should he be suspended at the fat neck) to the House of Lords.....

    please insert "maybe the Lordly pie eating lard barrel"
  4. ..........which news has probably put a smile on the face of Mrs Cameron's speshul son: give the coalition another few months, engineer a reasonably amicable divorce, go to the country and then back in with a workable majority.

    Further, it'll be interesting to see if Alan Sugar, the Folletts, Blair et al reach for their cheque books in a display of socialist solidarity.
  5. Tell me what you`re smoking, I could use some of whatever it is!
  6. Stand by for renewed calls for state funding of political parties. With Labour membership on a downward spiral and the rich and powerful uninterested in the poor and powerless Labour party, it's the only way they'll stay afloat.

    All that's currently keeping the bailiffs from snatching the crayons and magic markers Gordon's using to write his book is a massively generous overdraft arrangement with the Co-Op bank. So massively generous in fact that the banking regulators have imposed special terms on the Co-Op. Of course, now that the regulators are back under Tory control ..........

    Then there's the union funding. IIRC, 72% of Labour's dosh comes from the unions. In fact most comes from a single union and, in return, over 100 safe, Labour seats were handed to officials of that union at the election. In the 70s, it was said that the miners unions were the shock troops of the Labour party. Now, 30 years later, the Labour party is a wholly owned subsidiary of Unite.

    If Dave makes good on his promise to limit political donations to £50k, Labour wont even be able to pay the interest on their debts.

    Finally, there is the question of constituency resizing. No less a luminary than Jack Straw has stated that Labour will never win another election again if every vote is equal in general elections. Many Labour constituencies have fewer than 50,000 electors. One Tory constituency has over 100,000. That's taking the pi$$ and that's why Labour got 80% more seats in 2005 with only 3% more votes.

    That's three different ways that Labour could die in the next five years. Let's face it, a party to represent legions of illiterate, manual workers who went down it pit or in it mill aged 12 has no relevance in the 21st Century. They'll split in two. The ranting Marxists will go one way and the Blairite wing will go another, possibly joining with the LibDems to make the LibLabDems.
  7. the_boy_syrup

    the_boy_syrup LE Book Reviewer

    Unite is hemmoraging money as well
    People are jacking it in droves after the recent wave of air line strikes
    Seems people are more interested in accepting company terms to keep there jobs instead of striking for an extra £1 a week
    Unite has also imposed a pay freeze on their own staff although Woodley hasn't screamed about that and brought his own workers out also
    Less Unite money means less to Labour mans hopefully they will go under
  8. Karma!

  9. If correct one or two senior Labour Party Executive figures will be developing a twitching **** sphincter .... from an earlier post of mine on a different thread concerning Brown ...

    He will try every trick in the book to retain power for Political and Financial reasons .... the Labour Party is effectively bankrupt and he and other members of the Cabinet may become liable for it's debts .

    Further on another thread , which I cannot find , I predicted that if Labour were re-elected one of the first acts of a Labour Government would be Public Funding of Political Parties because of its dire financial straits .
  10. Don't be so sure that CMD doesn't look at public funding of parties too. Membership of all political parties is crashing - there are more people involved in the Scout movement than members of parties.

    Re-sizing constituencies is enough in itself to make Labour a spent force. Why destroy them? Better the devil you know and can comfortably beat than some LibLab hybrid.
  11. Isn't it nice to see our recent masters reaping what they have sowed quite so widely.

    I wish the Treasurer and the National Executive Committee of the Labour Party many ills as they (hopefully) fail miserably to extract their obsolescent and corrupt organisation from the mire.
  12. Now they aren'tin government they can't launder taxayers money through the Union Modernisation Fund to keep themselves afloat.
    They have only remained afloat upto now by stealing money from the taxpayer.
  13. Bankruptcy? Financial AND moral!
  14. Naturally, Prescott is telling the truth, rather than lying in an attempt to further his own purposes. I suspect the finances he's most concerned with are his own: I doubt there's much call for an inarticulate, halfwitted gopher on the international lecture circuit.
  15. Auld-Yin

    Auld-Yin LE Reviewer Book Reviewer Reviews Editor

    Martin Bell, at the Edinburgh Book Festival (luvey mode on!) was asked if he supported public party funding. He is vehemently against it because he felt that this would move the parties even further away from the people. If the money came through a formula decided by Parliament then this would mean that the parties had even less to look to their constituencies for - just their megre vote.

    What he did suggest is to limit the amount that can be donated so the big battalions can't come in and dictate policy through donation. He pointed out the way Barak Obama asked for donations no larger than $100 and in two weeks had funded his campaign from the ordinary voter, leaving him free to run his campaign without being beholden to any major player.

    So I agree with him, no taxpayers money and the parties to talk to and listen to their supporter to persuade people to donate thus having people who feel committed to that party's policies. This would give some power back to the ordinary man and woman in Britain. We certainly don't have much of that now. Neither party could give a tinker's f*** about the ordinary person.