26 April 2009

Minister bets on Labour defeat

According to todays Sunday Times, a government Minister is set to cash in on Labour losing the next election. The unnamed MP alledgedly placed a considerable sum of money betting that Labour will fail to gain an outright parliamentary majority after the next election. The article claims the wager was made at the height of Gordon Browns honeymoon period in Summer 2007. 
"The minister, who asked not to be named, told friends earlier this month that he was set to win a “substantial” sum if Gordon Brown failed to secure an outright majority and was forced to form a coalition government with the Liberal Democrats."
There is no written code preventing any MP or minister from betting against his or her party, but you have to wonder what motivation this individual will have to fight tooth and nail for the government when they could rake in a substantial amount of money from defeat. 
"The bet will, however, raise eyebrows in Downing Street because it suggests a lack of confidence in Brown’s ability to beat David Cameron at the election, due by June next year."
Although if the current polls are to be believed, then the Conservatives will form a government with a 150 seat majority rather than a Lib-Lab coaliton. 

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