Interest Free
It seems that New Labour has not paid a single penny of interest on the secret loans raised by Lord Levy. The rules quite clearly state that loans which are not based on commercial terms must be declared.
Detectives are already looking into whether the loans were made on terms the party would not have been able to gain from a bank. They are examining whether the loans were made on the understanding that they would be converted to donations later and never repaid. Opposition politicians believe that the loans were not made at a commercial rate and that Mr Blair broke the law by failing to declare them.
If there is a bank in this country where you can secure an interest free loan (not for the purpose of buying goods) then I will eat John Prescott’s underwear.
New Labour are morally bankrupt as well as fiscally bankrupt. Jail is too good for them.
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By Chris Palmer, July 25, 2006 @ 6:57 pm
John Prescott’s underwear..? You’ll have to ask Ms Winterton for those.