"buy your way into the legislature by simply giving a lot of money"
A PROPERTY developer who made a secret loan of up to £2 million to the Labour Party has withdrawn his name from the list of nominations for a life peerage.
Sir David Garrard, 67, is the second donor to abandon his nomination after being blocked by the House of Lords Appointments Commission.
The departure of Sir David has inflicted further embarrassment on the Labour leadership, which, the The Times disclosed last week, had omitted to tell the Appointments Commission that three nominees, Sir David; Chai Patel, the founder of the Priory Clinic; and Barry Townsley, a financier, had all made loan deals of more than £1 million.
The commission has a duty to investigate all financial links between nominees and the party they will represent in the House of Lords but because the loans involve an undeclared rate of interest they are regarded as commercial transactions and do not have to be disclosed.
Lord Levy, the Prime Ministerís fundraiser, persuaded the three nominees to make loans rather than donations in the belief that their financial support would not become public.
The funding row took a new twist last night when Jack Dromey, the Labour treasurer, denied all knowledge of the loans, which were negotiated by Lord Levy.
I wonder where the Treaurer thought the large lumps of cash that were appearing his accounts were coming from.
So stand by for "Public Funding of Political Parties" as the Labour party cash register has run dry now, no chance now of a making you wife a Lady by giving Tony money, so they will want to squeeze the tax payer for their dosh - though the sight of them trying to exclude the odious BNP from the payee list will almost be amusing enough to make it worthwhile.