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…



Tip offs: 0709 284 0531
team@Order-order.com

GuidoFawkes Quote of the Day

Liz Kendall is asked by Tom Newton Dunn if she would ever ban the Sun from one of her press conferences:

“If you stripped naked and ran in front of me, Tom, I might have second thoughts about it, but apart from that, no.”

Top Posts This Week

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.

Facebook

Labour Candidate: Repatriating Tunisia Victims is ‘Imperialist Militarisation’ Labour Candidate: Repatriating Tunisia Victims is ‘Imperialist Militarisation’
Tory MP’s House Husband on Public Payroll Tory MP’s House Husband on Public Payroll
Corbyn Blames Tunisia Terror on “Austerity” Corbyn Blames Tunisia Terror on “Austerity”
Norwich MP’s Brilliant Accidental Partridge Norwich MP’s Brilliant Accidental Partridge
FRIDAY PROCRASTINATION: BING PONG FRIDAY PROCRASTINATION: BING PONG
Uber Suspend Services in France Uber Suspend Services in France

Gerald Kaufman: English Votes For English Laws is “Racist” Gerald Kaufman: English Votes For English Laws is “Racist”
Environment Minister Totty Watch Environment Minister Totty Watch
MEGA INTERCONTINENTAL ROBOT WARS MEGA INTERCONTINENTAL ROBOT WARS
Dave Meets UKIP Dave Meets UKIP
Secret Fracking Report Doesn’t Reveal Much Secret Fracking Report Doesn’t Reveal Much
Environmental Advantages of Airport Expansion Environmental Advantages of Airport Expansion
PMQS SKETCH PMQS SKETCH
“Dodgy” Dave v “Jurassic” Skinner “Dodgy” Dave v “Jurassic” Skinner
Missed PMQs? Catch Up in Full Here Missed PMQs? Catch Up in Full Here
Do you have what it takes to join a GCHQ hacking SCHOOL? Do you have what it takes to join a GCHQ hacking SCHOOL?
IDS Expenses Row: Was Credit Card Suspended Or Not? IDS Expenses Row: Was Credit Card Suspended Or Not?
Questions Channel 4 News Don’t Want to Ask Questions Channel 4 News Don’t Want to Ask
Zac and Boris Warn Dave Zac and Boris Warn Dave