Friday, 28 May 2010

Is Labour bankrupt?

Leaving aside the question about moral bankruptcy, is the Labour party bust? It was twelve million quid in the red at the end of 2008 having sold assets and brought union contributions in early to reduce its massive structural problems. Given that it spent around £25 million on the 2005 campaign and that it had a bigger fight on its hands this year, it's a decent guess that its 2010 election spend was over £20 million (it's a party known for irresponsible spending, after all). Given that it only brought in £5 million during the campaign, it's a decent question to be asking - is Labour broke?

If, as I suspect, the answer is "awfy broke" and it is now out of power without a single leadership candidate looking like they'd be a credible alternative Prime Minister any time in the next decade, thereby affecting the possible business donations, will it have to fold? If it does, would that leave each of its members liable for a proportion of the debt as members of an unincorporated association?

If the Labour party is scooshed, how will it fight the next election?

Mind, now!

1 comment:

james said...

their friends in the City of London have deserted them, but they still have the trade unions to fall back on