Peter Oborne’s column in The Daily Mail reveals just how bad Labour’s financial position is. As Peter notes, there are doubts as to whether the party can be deemed a ‘viable going concern.’
Incredibly, there is a real chance that the Labour party might actually go bankrupt and that members of the NEC could find themselves personally liable for Labour’s debts:
This crisis is going to compound Brown’s political problems. The unions are only going to bail Labour out if it moves in their direction politically. But the public finances are in such bad shape that it is hard to see how the government could agree to a string of large public sector pay rises.“This threat of personal liability is now being taken very seriously indeed, so much so that the GMB trade union has already taken the extraordinary step of discussing at its last executive council meeting whether its two representatives on Labour’s ruling National Executive Committee (NEC) should be indemnified against financial loss in the event Labour goes bankrupt. ”
Get Britain's best politics newsletters
Register to get The Spectator's insight and opinion straight to your inbox. You can then read two free articles each week.
Already a subscriber? Log in
Comments
Join the debate for just £1 a month
Be part of the conversation with other Spectator readers by getting your first three months for £3.
UNLOCK ACCESS Just £1 a monthAlready a subscriber? Log in