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Can we interest you in a Labour Party credit card?

While bashing those in the City for charging their clients sky high interest rates it now turns out that the Labour Party were offering their Party credit card to delegates who attended the Manchester conference. However, while debts in the Labour party hover around the £16 million mark it seems as though delegates who take up the offer will be the ones in financial trouble!

The quoted rate for the card is 18.9% APR which compares to figures as low as 10.4% currently available on the high street and there is also a £15 'donation' required to sign up to the card. When you consider that the Labour Party has reduced the party overdraft by some £11 million since 2005 the emergence of this card may cast some light on the upturn!

However, it would be unfair to slate the Labour Party for the issue of their credit card as all of the main parties have jumped onto the credit card bandwagon as well as other financial products. While the cost of politics in the UK is nothing compared to the US, there has been a marked increase in expenses over the last few years - a situation which has prompted a move for tax payer funding for political parties. Would you trust them with your money?

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