Political party borrowing: prepare for a round of misreporting

The latest figures from the Electoral Commission for donations to political parties and borrowing by parties are out today.

It includes the claim that, “As at 30 September 2008, total borrowing stood at just over £31 million.”

As is now traditional, the Electoral Commission is, in fact, misreporting its own figures. As I wrote last time:

You will find that this is actually the total figure for borrowing plus unused credit facilities. It’s as if I had an unused credit card with a £500 limit that’s never come out of the envelope and never been used, but you said, “Ah ha! You are borrowing £500.”

The real figure for “total borrowing” is actually over £10 million less than given in the Electoral Commission’s press release. Sigh.