Labour Almost Bankrupt

According to John Prescott, as reported by Michael White in The Guardian, the Labour Party is more than £20 million in debt and on the verge of bankruptcy.

The party's financial woes are of course old news, and I have touched on this looming and actual situation a couple of times in the past year or so.

Of course, Prescott is himself aiming at the position of party Treasurer, so has his own reasons for making such statements and flinging blame around (as he does: read the Michael White item and also today's Prescott piece which is linked therein). He is rather obviously trying to sell himself as a contender for that job.

Regardless of all this, though, is what I (and others) mentioned in earlier reports: that the big public sector Trades Unions were effectively "buying" the party, so they won't let it fail. They'll just keep pumping more money in for even greater control of policy and positions of power for their bosses and placemen.

That is now almost certainly to be the future of the Labour Party: to become purely a tool of the big Unions. The move in that direction has already been going on for some time, and is set to continue down the road toward total Union control before much longer.

By the time of the next General Election, it will have been put fully in place, and bankrolling the election campaign will seal the deal completely and (probably) permanently.