Labour Party in £20 Million Debt as Tories Need £12 Million Per Year
The Labour Party is £20 million in debt, spent £10 million on the last election while the Tories spent £30 million but need another £12 million per year just to “break even,” it has emerged.
The revelations of how much the two parties spend emerged after would-be Labour treasurer John Prescott revealed how serious Labour’s financial problems were as the Conservatives dumped a new would-be treasurer after newspaper scrutiny revealed his dodgy connections.
Writing in the far leftist extremist Guardian newspaper, Mr Prescott admitted that the “Labour Party stands on the verge of bankruptcy. We are more than £20m in debt, facing a long-term decline in membership and a crisis in funding.
He also revealed that the Labour Party will only clear its debts by 2016. Mr Prescott also discussed the problems facing the Conservative Party, which needs more than £12 million per year just to break even.
Meanwhile, the Tory party’s would-be treasurer David Rowland has resigned before he even took up his post after his dodgy financial background became public knowledge.
The Conservative Party said that Mr Rowland “would not be taking up the role raising funds for the party due to the expansion of his global business interests.”
This was however an obvious ruse, as Mr Rowland was earlier exposed as yet another non-dom tax exile worth at least £730 million, much of it acquired through business deals which have been highly suspicious to say the least.
Mr Rowland was convicted of petty larceny at Wimbledon juvenile court at age 15, but shortly thereafter developed business connections which allowed him to live overseas in tax havens such as the Bahamas, Panama, Luxembourg and the British Virgin Islands.
Nonetheless, he became one of the Tory Party’s largest individual donors, giving more than £2.8 million to that party. He was suddenly promoted to be treasurer by David Cameron as a reward, but his sudden rise in party ranks irked fellow Tories who then leaked details of his dubious financial dealings to the media.
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