Friday, May 09, 2008

Is Number 10 Going To Be Repossessed?

"Labour chiefs have until the end of this month to plug a £4 million hole in the party’s finances and avert the possibility of a formal declaration of bankruptcy" according to Tribune.

Apparently, officers have identified a gap in the balance sheet of around £4 million which must be closed in order to satisfy the auditors, either by cash in the bank or certifiable promissory notes.

So Gordon Brown has led his Party to the verge of bankruptcy? A good job that he is not in charge of the country's finances then! (Of course, he was not aware of any of the dodgy loans that Lord Levy set up, was he?)

But, as well as the short-term difficulties, there are long-term worries about financing the party in the run-up to the next general election, "when it can expect big donations for the campaign".

One Labour head office worker who has seen the books said: “Whether we sort out the immediate problem or not, we are still going to have to rely on millions of donations. The money is just not coming in.”

Well, there we have it. Gordon Brown ("the greatest Chancellor of the Exchequer for 250 years") is facing repossession of his London home because he can't pay the mortgage. Brilliant!
Maybe he could ask his old mucker, Tony (Money Bags) Blair for a sub? But maybe Cherie will not agree........


Gordon Brown said...

How dare you photoshop that image of me! I was scratching my eye!

david said...

Maybe if it did happen it would push the government to do something about the current situation of the housing market in the United Kingdom. Are greedy people to blame for getting a mortgage they cannot pay back? I don't know, all I know is more people need to get some sort of protection like a Mortgage Bonds.