Thursday, November 09, 2006

Peerages

At 9:42 PM, Anonymous said...

so 5 ministers probed in cash for honours row, ummmm did I get that from tory central office? no I dont think so comments please on a postage stamp!


At 8:55 PM, Anonymous said...

Dear Mr Postman
if you decide to post the above comment could you post this on the same thread.

Police widen the loans for peerages investigation to include all parties.
By all I assume they mean Con, Lib, Lab.

Cheers.
Posted by at

8 comments:

Anonymous said...

Heres a delicious one from Liberl Review


New funding scandal raises questions over Conservative donors

Conservative finances are under scrutiny as they claim "not to know" who has sold them the freehold to two London properties

The announcement from Conservative Party Chairman Francis Maude held little hint of the fincancial background. On 27 September he announced a series of property moves, including this

The Party continues to own 32 Smith Square, having recently purchased the freehold of Smith Square and the adjoining 67 Tufton Street, and is continuing to review options on its future use.

But this transaction had already made the papers back in August when the Observer reported that

in recent weeks the party has been negotiating to sell the freehold to their historic headquarters in Smith Square, together with adjoining offices in Tufton Street, for an estimated £30m. Yet they acquired the freeholds on both properties in March this year for £15.56m, after obtaining a loan from the Allied Irish Bank.
Tory officials have declined to reveal the identities of either the businessmen who sold Smith Square to them in March or any company in the process of purchasing it.

Now it is back in the news. In a wide-ranging on Tory fundraising, the Independent on Sunday names Christopher Moran as one of those involved in the transaction:

A key Tory supporter. He throws his London home, Crosby Hall, open for Conservative Party events and was recently made a director of the Tories' property company, C&UCO Properties Ltd. He was expelled from Lloyds in 1982 for 'discreditable conduct'.

According to the Independent on Sunday, C&UCO Properties Ltd holds the leasehold to 32 Smith Square on behalf of the Conservative Party. (There is more on Moran on the Sunday Times Rich List.)

The Sunday Times is investigating similar issues. It names Lord Salisbury (a tory peer on leave of absence form the House of Lords as a protest against having to declare financial interests) as one of those involved in "a trust that helps to bankroll the Conservative party from properties that it owns".

The article claims that the "party accepts money from a number of unknown or obscure organisations, trusts and companies — devices, it is claimed, that are used to avoid public scrutiny of donors."

Now the Sunday Telegraph is getting interested and says that the Tories "claim not to know who sold them two Westminster properties in a multi-million pound property transaction being investigated by the Electoral Commission".
Smith Square: At the centre of speculationSmith Square: At the centre of speculation
The Telegraph says that C&UCO Properties have acquired the freehold to buildings in Smith Square and Tufton Streetby taking control of an offshore company "Platinum Overseas Holdings, a mysterious offshore company based in the British Virgin Islands".

All this has led to Francis Maude having to make some further statements

Francis Maude, the Conservatives Party's chairman, said the party did not know who the owners of Platinum were. He said the sale of Platinum was conducted by Citigroup, the investment bank. However, Citigroup sources told The Sunday Telegraph that they were "unable to find anyone who is aware of this transaction" at the bank.

"It was a very commercial transaction," Mr Maude said, adding: "It is not a hidden donation."

The Electoral Commission might take some convincing of this. In the meantime it seems clear that the use of overseas companies has enabled the Conservatives to avoid a stamp duty bill of more than a quarter of a million pounds.

10/11/06 10:26 am
Anonymous said...

Thank you.

10/11/06 11:01 pm
Anonymous said...

Where's the original poster?
Or is that Postee?

11/11/06 10:44 pm
Anonymous said...

Of course a few years ago you could simply pay a tory MP to ask a parliamentary question about this isrt of thing, but they don't let you do that any more.

12/11/06 10:40 am
Anonymous said...

Why don't they just offer honours for tender, with a section on the form to list previous convictions, connections with dictators, arms and tobacco firms etc. You have always been able to get a knighthood by sticking enough into the right party and a less amouint into a charity to make it look good. Blairs mistake was to try to do it under the table according to the telegraph.

16/11/06 11:47 pm
Anonymous said...

i think that's a very good idea.
Shouldn't the people who rule us have life experience?

19/11/06 5:33 pm
Anonymous said...

Cue for a song "How much is that earldom in the window?"

20/11/06 2:05 pm
Anonymous said...

So why don't Labour get on with overhauling the House of who your parents are / how much did you say. And let we, the people, vote in who controls us.
Whoops, did I just answer my own question?

20/11/06 5:34 pm

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