Difficult financial year

Labour has admitted it is facing "acute cash flow problems" due to the �23.4m it has received it loans. Despite major cost cutting and debt rescheduling it is still struggling to repay two of these loans.

A statement issued by the Labour Party said it wants a future where "political parties should live within their means".

It would appear it's a bit late for that now. No wonder we live in a debt ridden society when the party in Government can't even mange its own budget successfully. I dread to think what the Government's balances are really like, given they have billions to manage!

The solution I expect will be to introduce state funding for political parties. So Labour gets itself into levels of debt it can't manage, the public has to bail them out. Great!