Friday, July 31, 2009
Labour Donations Mask the Real Figures
It seems that the Labour Party have the same approach to their own balance sheet as Gordon Brown has to the nation's finances. The papers have reported this morning that in 2008 they raised more money than the Tories. Er, not so. They only got to the figure of £34 million by reshaping their balance sheet to make it look better than it really is. £4.6 million of the £34 million was a VAT rebate. A further £2 million was a loan converted into a donation by Lord Sainsbury. When you take into account the amount of money they receive from the unions, the figures don't look quite so healthy. Indeed, it seems J K Rowling was their biggest donor in 2008.