
The balance sheet is deepest red
Today’s Observer has an update on the state of the Labour party’s finances, as Peter Oborne reported back at the end of May there is a real chance that the Labour party might actually go bankrupt. Gaby Hinsliff reports that this worst case scenario appears to have been avoided thanks to a substantial donation from Sir Ronnie Cohen and Lord Sainsbury agreeing to guarantee the salaries of various future staffers. However, the party remains heavily in debt. Ray Collins, the new general secretary, has said that Labour cannot afford to recruit many new staff before the next set of European and local elections in 2009 or the general election. This is going
