The Labour Party is £25,000,000 in debt. Since the cash for honours scandal its wealthy private donors have speedily jumped off the sinking ship and now they are once again 90% dependent on financial help from the unions. The party's membership roll is in free-fall as its disillusioned members abscond from the party in droves. The dark souled figure of Gordon Brown is proving to be a disastrous political leader and the party now seems bereft of any original policies. Every policy initiative recently announced by New Labour seems simply to be a hurried rehash or clone of an original Tory policy, e.g., raising the threshold on inheritance tax and introducing draconian welfare reforms.
Labour have already lost the next general election in 2010. New Labour seems to me to have become a rudderless and heartless neo-Conservative hulk that stands for nothing and believes in less than nothing.
With their financial and other forms of support waning could the Labour Party actually be heading towards political extinction as a political force in a manner similar to David Owen's SDP in the eighties?
Could the Labour Party actually cease to exist as an entity?
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