The Times reports today:
“THE business that gave the largest financial gift to the Liberal Democrats was entirely fraudulent and had never traded, a High Court judge ruled yesterday.”
and:
“The Electoral Commission, which polices political donations, said last night that it will study the judgment in detail. It has the power to ask the courts to force parties to surrender gifts. Under election law, corporate donations may be accepted only from companies “carrying on business” in Britain.”
Rather hilariously, Iain Dale interprets this as “LibDems Stare Bankruptcy in the face.” Two things on that.
1) If we were forced to repay all of the donations, that would require each Lib Dem member to fork out about £30 to get the party out of a hole. I’d open my chequebook now. The major party donors would do the same, I’m sure.
2) Our party is the only one of the big three that ended its last reporting period solvent. Unlike Labour and the Conservatives, we don’t have eye-watering debts beyond our wildest dreams. We can find £2.5m in extreme circumstances.