Labour noughties debt
During the noughties, the Labour Party failed to generate the cash to win and fight elections, it had to borrow tens of millions. Here’s some reporting on it,
- Blair plunged into secret loans crisis from the Guardian – Mar 2006, complaints from the Treasurer that loans were made in exchange for peerages, and without the knowledge of the Party Treasurer.
- The “loans for peerages” scandal and the terminal decline of New Labour from the World Socialist Web Site
- Capita boss quits over Blair loan from the BBC. This articl styates that the Commons Constitutional Affairs Committee planned to call Lord Levy (no relation) to account for his role.
- Labour ‘bankrupted’ by secret loans from the independent, alleging that defence costs for staff over cash for honours was a significant cause. Jan 2007
- Top Labour backer calls in £2m loan as donors revolt in the Times, Oct 2015, a shameful list inc. John “Mr Moneybags Lexit” Mills of richdonors deserting Labour after Corbyn’s victory.
- Labour pays off £25m debt and abandons move out of Westminster in the Independent Nov 2015, a month after Corbyn’s victory. The article claims that £25m was paid off.
There’s more to find, and this needs to be made into a story, because its happening again.
It would be interesting to track the decline in individual membership from 1997 to 2005.