Audrey Young has blogged on the Glenn scandal and suggests that Labour should be squirming.
On the issue of the interest free loan she says:
As for the loan, David Farrar points out the discrepancy between Labour's denials that it had received another loan from Glenn [he was being asked in the context of Glenn receiving a New year's honour] and the fact that the interest-free component of the loan it did receive is legally classed as a donation.
Mike Williams told me on Friday that the loan was made last year and that it would therefore be declared in Labour's 2007 donations that must be with the Electoral Commission by April 30.
Williams should have declared that loan then and there even if it is not, colloquially speaking a donation. Presumably he didn't because he knew it would look bad.
I don't think it is a federal case that he did not - but Labour deserves to squirm over its relationship with Glenn and the way it tailored the Electoral Finance Bill to suit its own self-serving circumstances. The original cabinet paper on electoral reform banned all donations from overseas sources. The final product banned donations from overseas unless it was from an ex-pat donor.
