Labour Isn't Working, I Hope
OH THE IRONY. The Labour Party is little more than a month from bankruptcy and Gordon Brown, the man who has done so month to tax the British people into poverty, may be held jointly liable for its debts:
"The party has five weeks to find £7.45m to pay off loans to banks and wealthy donors recruited by Lord Levy, Tony Blair's former chief fundraiser, or become insolvent. A further £6.2m will have to be repaid by Christmas - making £13.65m in all. The sum amounts to two-thirds of the party's annual income from donations. The figures are a conservative estimate as they do not include interest that will also have to be paid. 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."
Send in the bailiffs! But wait, it gets better ...
"The advice from City solicitors Slaughter and May said unequivocally that leading party officials and members of the NEC would be " jointly and severally" responsible for the party's debt. The reason is that the Labour party constitution is framed like a local club or society, and has no provision for limiting the liability of its officials or managers."
Words simply cannot express how happy I am at reading those words, yet it gets even better ...
"The party's financial crisis could be compounded this autumn. Three of the biggest unions, Unison, the Communications Workers Union and the GMB have tabled motions at their annual conferences next month calling for members to disaffiliate from Labour. If this goes ahead, Labour would lose £4m of its £19m a year in donations."
What a joy it is to be alive this day. The image of Gordon Brown and the rest of his thieving, socialist junta in Newgate, with bowls of watery gruel for company has me floating on air. And what a bind they find themselves in: possible bankruptcy entailing personal liability, or they thieve even more from us to stay in business and see their electoral prospects crash through the floor. Bring on the summer.
<Exits, whistling a happy tune ...>
Pete Moore
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Reader Comments (3)
After thoughtful consideration of the difficulties that the Labour party finds itself in my considered reaction is as follows:
HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA!
{pause for breathe}
HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA!!!!!!!!!!
LOL! Fantastically named solicitors too (Slaughter and May).
It could only be funnier if Northern Rock owned some of the debt.
Well, yes, it would indeed be black forest gateau followed with strawberry vanilla ice cream to see the dirty, vile communist Labour Party go bankrupt and be reduced to the level of, say, the Green Party in political terms.
But I think they'll probably just raid the treasury, or do whatever has to be done to stay afloat. And we'll sit back and take it, as always.
"But no-one ever changed the church by pulling down the steeple
You'll never change the system by bombing Number Ten
Systems aren't just made of bricks; they're mostly made of people
You may send them into hiding, but they'll be back again".
-I'd rather see the whole "Labour" ideology discredited and destroyed, than merely see the party go to the knackers yard financially.