So we’re more than £20 million in debt. £16m in the red with a further £11m in loan repayments.

Short money of £4.5m a year will help the shadow cabinet and their spads with their transition from government to opposition, but we won’t be able to touch a penny of it for party campaigning or reducing the debt.

So Labour’s going to have to think smarter and, well, cheaper if it’s going have any impact against the Tory-Lib Dem government.

But here’s the good news – campaigning isn’t expensive as it used to be.

Take our Go Fourth campaigns against RBS, that private members bill against the minimum wage and abolishing NHS Direct. (more…)