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Gordon Brown personally liable for millions of Tony Blair's debt
by liamssoft | May 29, 2008 at 01:47 am | 312 views | 6 comments | 14 recommendations
by liamssoft
Labour have committed us to a level of debt that few can comprehend. The possibility that party officials and NEC members could also become personally liable for the debt are a real possibility...
Gordon Brown and other senior Labour Party officials face having to pay back millions of pounds worth of debt incurred by Tony Blair unless new donors are found in the next few weeks, it has emerged.
Loans totalling £7.45 million are due for repayment or review by July 1, and around £6 million more by the end of this year, according to figures on the Electoral Commission website.
Because of Labour's constitutional arrangements, individual members of the National Executive Committee and senior officials are "jointly and severally" responsible for the party's debt and could be required to meet outstanding debts from their own funds.
It is understood that it was concern that he might be bankrupted by this personal liability that led City financier David Pitt-Watson to turn down the post of party general secretary earlier this year.
May 29, 2008 at 01:47 am by liamssoft, 312 views, 6 comments
Most RecentMost Recommended Comments (6)
at 01:57 on May 29th, 2008
liamssoft, I like this story. It's good stuff.
at 02:17 on May 29th, 2008
Many thanks greg1usa It has become increasingly clearer that the situation may be beyond even Gordon Browns legendary powers of economic management ...
at 07:55 on May 29th, 2008
Wouldn't that be GREAT! All countries should hold their leaders financially responsible for some of their choices while they are spending the taxpayers money!
at 08:12 on May 29th, 2008
Many thanks moonwolf, They should give themselves - and us - that choice for ordinary people to hold their politicians to account. They are spendaholics who will spend any money they can get, very often money down the drain on harebrained schemes costing billions to implement which were never needed in the first place.
at 08:03 on May 29th, 2008
liamssoft, I like this story. It's good stuff.
That sucks for him.
at 08:18 on May 29th, 2008
Many thanks amyjudd, Fortunately for him, however, his own purring lulls him to sleep!