Tuesday, 21 August 2012




Labour Borrow Way Out of Financial Crisis, Again

Guido has reported with interest on the internal restructuring going on over at Labour HQ during the last few months. Two weeks ago the party finalised their austerity programme, hoping that a spate of voluntary redundancies and structural reform would rake in significant efficiency savings. They need to – Labour overspends by £1.7 million each year.

Guido has pointed out the hypocrisy of advocating increased public sector borrowing to tackle the economy’s woes while making cuts within the party, but now it seems Labour’s money men might be toeing the same line as the Shadow Chancellor. The latest figures show that Labour has almost £10,000,000 worth of loans outstanding and, while cuts had apparently been seen as the order of the day, they have taken out new loans worth £7,300 in the second quarter of 2012:

Some things never change…


£250,000 For Dinner With Nick Clegg

While the sky-high union funding of the Labour Party will hardly come as a surprise, Guido was intrigued to note a sizeable donation to the LibDems in today’s latest figures. The largest yellow donation was generously given by a property development company by the name of Brompton Capital Limited. Brompton Capital – owned by millionaire businessman Rumi Verjee, an entrepreneur who made his fortune selling pizza - gave the LibDems £250,000 in the second quarter of 2012. Guido is sure that it is nothing than coincidence that last year Verjee dined with Nick Clegg at the LibDem leader’s posh home in Kent. Hopefully Verjee got more than a Domino’s for his money…

Unions Donate £2 Million to Labour in 2012 Q2

Figures released today show that trade unions gave almost £2 million to the Labour Party in the second quarter of 2012 alone. Len McCluskey’s Unite was once again the biggest single donor to any party by some way, while overall unions donated some £1.8 million to Red Ed and co:

Overall party donations fell by almost £1 million between April and June.Participation by the people is plummeting while the unions’ bankrolling of Labour goes from strength to strength…

UPDATE:

Sex Scandal Injunction Busted

Read all about the latest failed injunction, and an interesting new ruling by the High Court…

…Over on Media Guido

Balls Beau’s BBC Bias

Iain Duncan Smith has submitted a formal complaint to the BBC, accusing economics editor Stephanie Flanders of “peeing all over British industry“. IDS reckons that Flanders – who famously dated both Ed Miliband and Ed Balls – was guilty of bias over her coverage of last week’s positive unemployment figures:

“The BBC is locked to the reading of the economy that is run out of Ed Miliband and Ed Balls’ office. They think if only you spend and borrow more money you can create growth everywhere. This is the general tenor of everything that comes out of the BBC. They expected the (employment) figures to be flatlining. They convinced themselves youth unemployment would continue to rise, but when it fell they were in a complete quandary. Stephanie Flanders poured cold water over the whole thing. She said: ‘Of course this is good news, but it could be because we aren’t productive enough’. If the unemployment figures had gone up, we would have been on the BBC TV News at Six and Ten and would have got the blame. When the news is good, the BBC view is ‘Get the Government out of the picture quickly, don’t allow them to say anything about it’. When the news is bad, it’s ”Let’s all dump on the Government’. Flanders was peeing all over British industry and the private sector. It was terrible.”

Comments

It’s almost as if journalists at the Beeb only read the Guardian