Great news that the backhanded theft of millions of pounds of taxpayers money by the Labour Party, also known as the Union Modernisation Fund, has been scrapped. But it’s fine, no doubt Prezza will be elected Treasurer at Labour conference and with his track record he’s guaranteed to sort out the hole in Labour’s dire finances.

The BBC have produced a round up of the campaign so far:

It is an accurate insight into the Miliband brothers’ relationship with a revelation that Hague likes Balls. The Guidoisation of politics continues…

You can bet your bottom dollar that David Miliband is rueing the day he didn’t stab Gordon this morning. Suddenly the race to be the next Labour leader got interesting. The late-in-the-game switch to Ed as favourite has been aided in no small part by the fact it was left-wing Red Ken beating right-wing Blarite Oona in a miniature version of the national race. This must be torture for David…

Nice to see the lobby are catching up with the fast pace this morning, it seems the pack have realised some people actually put their money when their mouths are.

You read it here first.

In about five minutes it will be announced Ken has beaten Oona King for the Labour London Mayoral Nomination.

Boris Vs. Ken Round II – risky strategy from the reds.

UPDATE: 10.05 – Confirmed.

This morning the Guardian is reporting that Jim Murphy, one of David Miliband’s two campaign managers, attended a meeting with members of the Ed Milband camp to map out how they would handle Saturday’s leadership result in the event of Red Ed winning. The Telegraph says “The overture is being seen as a signal that the elder Mr Miliband, long regarded as the front-runner in the race to succeed Gordon Brown, is bracing himself for defeat.”

Bookmakers overnight saw a big move onto Ed Miliband, some suspect that any deep pocketed operation to manipulate betting markets on behalf of David Miliband to keep his odds low has come to an end now that voting has closed. The odds are now more accurately reflecting the closeness seen by the pollsters. Mike Smithson over at PoliticalBetting.com is calling it for Ed and predicts that the brothers will soon be at evens or Ed will go favourite before the result is known on Saturday…

A student blogs of Brown’s Harvard lecture…

“His entrance was rather bizarre, because rather than coming straight to the front of the class, where our teacher was waiting, he barged through the audience, trying to shake as many hands as possible, before realising he’d edged himself into a dead end and retreating back to the blackboard.”