labour are they nearly bankrupt

  sunny staines 22:09 18 Jun 2008
Locked

read in a paper they over a million, if true and they go bankrupt does that exclude them from holding office or running for government?

not seen any further info so not sure if the story was exaggerated hype or not.

anyone in the know.

  WhiteTruckMan 22:13 18 Jun 2008

about morals then...

WTM

  anskyber 22:13 18 Jun 2008

Look at all the political party accounts.

Unless of course you simply want to make a party political point.

  sunny staines 22:40 18 Jun 2008

i was enq about any party that went bankrupt, i mentioned labour as that is the one i saw, but it could happen to any of them if donations dry up. more so since the investigations into some cash donations could put people off donating.

  helen. 23:06 18 Jun 2008

party accounts of 2004 make fascinating reading. If you are an accountant.;-)

click here

No sign of a later return:-)

  Forum Editor 23:27 18 Jun 2008

our political parties were funded mainly by the donations of party members. Go back 80 years or so and you would find that around 10% of the adult population were paid-up members of a political party; now that figure has declined to just over 1%.

In addition, all political parties spend far more than in the past - at the last General election the combined spending of the three main parties amounted to around £90 million. It's that - the huge spend on elections - which leaves all the parties deeply in debt.

There is a body of opinion that says political parties should be funded partly by donations, as they are now, and partly from public money. I doubt that the Labour party will become bankrupt, because they'll be bailed out - by wealthy individuals and by the unions.

  tasslehoff burrfoot 23:29 18 Jun 2008

But there will be a price to pay for that, surely?

I agree that the unions will bale them out, but you might find that Labour have to "tow the line" first.

  Forum Editor 23:54 18 Jun 2008

There's no gain without pain, as they say, and yes, I'm sure that any union deals will come at a price. We'll probably not know about that, however.

  beeuuem 01:24 19 Jun 2008

From click here
Senior officials in the Labour party, including Gordon Brown, could become personally liable for millions of pounds in debt unless new donors can be found within weeks,A Labour source said that although the total debt was listed as £17.8m on the Electoral Commission website, the true level, with interest, was nearer to £24m.

The quotes are taken from that source so that no right wing bias could be suggested.

  Cymro. 11:29 19 Jun 2008

"There's no gain without pain, as they say, and yes, I'm sure that any union deals will come at a price. We'll probably not know about that, however".

Yes I agree but the Unions hold on the Labour Party is not what it used to be, and I dare say that much the same sort of thing could be said about the Tory Parties relationship with big business.F.E.

  peter99co 11:30 19 Jun 2008

I think they are bankrupt of good ideas

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