The Labour Party as we know it could become insolvent in a few weeks, and there may be a UK general election happening sooner than expected.
According to this damning report in the Guardian this week, Labour has to pay back a total of £13.65million in loans to banks and wealthy donors- £7.45million has to be found within the next five weeks to stave off financial bankruptcy. Another £6.2million has to be found before Christmas. If the loans aren’t paid back in time, several leading members of the party’s ruling National Executive Committee, including Prime Minister Gordon Brown, could be found liable to pay the amount out of their own pockets. More bad news came when several of the trade unions who bankrolled the party in the past are refusing to help them out this time….
I bet they’re saying, “Where the f**k’s Lord Levy when we need him?”
This could mean the end of the Labour government… and the party… forever…..