The labour party are close to insolvency, as reported in the Telegraph.

The real story here is that it is only the trade unions keeping Labour afloat,

“The number of paid-up Labour Party members has fallen from 400,000 in 1997 to fewer than 200,000. Only the trade unions, which have almost quadrupled their support in the past six months, are saving the party from being declared effectively bankrupt.”

But wait a minute, is not the government, the government of a Labour Party kept afloat by trade union donations, also supporting trade union ‘modernisation’ with tax payer funded grants? Tory councillor Tony Sharp makes the point well in his blog,

“This large scale scam is what keeps the Labour Party in existence. Voters need to see where around £10 million of their money has gone and understand how it has been misappropriated.”

Despite this laundering of tax payers money Labour are still in the financial mire, perhaps Lord Levy can help out with the proceeds from his memoirs?