Labour's next GS should be a financial wizard?
PGKenyon Fri Feb 22, 2008 at 07:10:36 AM GMT 
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The latest donations and borrowing data from the Electoral Commission revealed Labour's net indebtedness in Q4 2007 was slightly higher while donations were sharply lower. The Party's dependence on its traditional financial supporters - the trade unions has increased, while TU members' readiness to fund Labour is facing increasing opposition from rank-and-file members.
They are questioning the value of the link faced by a Labour government seen as too close to big business and the rich. In the meantime, the Party's membership base has shrunk by more than half, though income from membership has been maintained to a degree through increased subscriptions. The gap between mainstream 'professional' political party cost inflation was filled by relying more and more on donations from rich individuals and corporate sponsorship.
As recent events have made crystal clear, as a financial model - it's unsustainable. Hopes still lingering in Whitehall of tapping into the public purse by increasing state-funding of political parties are doomed to failure. I'm wondering how much these matters are going to weigh in the minds of the 33-member National Executive Committee when they interview the five candidates short-listed for the job of General Secretary on 10 March and appoint.
My hunch is that it's going to take much more than a trusted pair of TU hands to guide the Party from the state of indebtedness left behind by Tony Blair. The first political test of the Party Leadership's understanding of just how fragile a state the Party may be in comes later today with the 2nd Reading of the Temporary and Agency Workers (Equal Treatment) Bill. If Gordon get's the politics right, it will still need a rigorous financial planner to ensure the Party is solvent ahead of the next General Election. Ideally, one who understands that politics is a people business too. There is no magic wand.
For an update on the real politik go to:
http://www.tribunemagazine.co.uk/2008/02/22/brown-bid-to-install-city-whiz-kid-as-labour-gen-sec/
As recent events have made crystal clear, as a financial model - it's unsustainable. Hopes still lingering in Whitehall of tapping into the public purse by increasing state-funding of political parties are doomed to failure. I'm wondering how much these matters are going to weigh in the minds of the 33-member National Executive Committee when they interview the five candidates short-listed for the job of General Secretary on 10 March and appoint.
My hunch is that it's going to take much more than a trusted pair of TU hands to guide the Party from the state of indebtedness left behind by Tony Blair. The first political test of the Party Leadership's understanding of just how fragile a state the Party may be in comes later today with the 2nd Reading of the Temporary and Agency Workers (Equal Treatment) Bill. If Gordon get's the politics right, it will still need a rigorous financial planner to ensure the Party is solvent ahead of the next General Election. Ideally, one who understands that politics is a people business too. There is no magic wand.
For an update on the real politik go to:
http://www.tribunemagazine.co.uk/2008/02/22/brown-bid-to-install-city-whiz-kid-as-labour-gen-sec/
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