During the noughties, the Labour Party failed to generate the cash to win and fight elections, it had to borrow tens of millions. Here’s some reporting on it,
- Blair plunged into secret loans crisis from the Guardian – Mar 2006, complaints from the Treasurer that loans were made in exchange for peerages, and without the knowledge of the Party Treasurer.
- The “loans for peerages” scandal and the terminal decline of New Labour from the World Socialist Web Site
- Capita boss quits over Blair loan from the BBC. This articl styates that the Commons Constitutional Affairs Committee planned to call Lord Levy (no relation) to account for his role.
- Labour ‘bankrupted’ by secret loans from the independent, alleging that defence costs for staff over cash for honours was a significant cause. Jan 2007
- Top Labour backer calls in £2m loan as donors revolt in the Times, Oct 2015, a shameful list inc. John “Mr Moneybags Lexit” Mills of richdonors deserting Labour after Corbyn’s victory.
- Labour pays off £25m debt and abandons move out of Westminster in the Independent Nov 2015, a month after Corbyn’s victory. The article claims that £25m was paid off.
There’s more to find, and this needs to be made into a story, because its happening again.
It would be interesting to track the decline in individual membership from 1997 to 2005.