January 8th, 2008

Credit Crunch Over Hain’s £5,000 from Loan Company CEOHe Gave Ringing Commercial Endorsement to Backer

Carol Vorderman charges a fortune to advertise debt consolidation company FirstPlus. Peter Hain got a donation of £5,000 from rival debt consolidaton company boss, Neville Allport, his Picture Financial Services plc offers easy credit – “You can even borrow up to 125% of the value of your home” says the website “something that traditional lenders won’t consider.” They won’t consider such gearing because it is financially reckless.

Prominently displayed all over the company website is Hain’s ringing commerical endorsement. Guido can’t recall a serving minister’s endorsement ever being used to advertise a company in this way. Guido is sure that Hain’s endorsements and the £5,000 donation are entirely coincidental.

The 10.9% APR charged to credit maxed out debtors is very profitable, which probably explains why Ronnie Cohen’s Apax Private Equity is the biggest investor in Picture Financial Services plc. Remind Guido again where Hain stood on the Private Equity issue during the deputy-leadership campaign…

UPDATE : Looks like Hencke and Wintour on the Guardian are joining the chase this morning, with a front-page splash on Hain’s missing declarations. They are (rightly) fingering sleazy lobbyist Steven Morgan, identified by Guido in May 2007 as responsible for raising the cash.

The story points vaguely to an undeclared circa £10,000 from “City or business people”. Hain is said to be personally auditing the figures. Don’t forget the benefits-in-kind Peter…



Seen Elsewhere

Does Europe Really Want Britain to Quit? | Nick Wood
Immigration Nation | Hopi Sen
Tories Choose Anti-Israel Candidate in Rochester | JC
Osborne’s Daycare Obsession is a Time Bomb | Kathy Gyngell
BBC Marr Pinko Trying to Ban the Queen | Speccie
Eric Hobsbawm: Companion of Dishonour | Standpoint
Guido Party Gossip | Iain Dale
Russell Brand Comes Out as 9/11 Truther | Guardian
Health Revolution is Underway | Fraser Nelson
UKIP Gets Professional | Red Box
Kelly Tolhurst Wins Rochester Open Primary | BBC


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Austrian Chancellor Werner Faymann on Cameron’s refusal to pay the £1.7 billion EU bill by December 1st:

“Well, then he’s gonna pay on December 2nd”



Mycroft says:

Have you read the last bit of Animal Farm?

You know where the animals are looking through the Farmhouse window?

My TV screen was that window at lunch-time today.

Be careful, the sudden self-congratulatory tone, the slightly pudgy outline of indulgence and you become exactly what you should despise.

The jolly face of the Quisling Cameron poses for your camera has mesmerised and deceived you, you who were once not so deceived.

You were no firebrand, you were a damp squib in my opinion, sorry.

You need a damned good kick up the ahse!


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