Red Face for ‘Red Ed’ as HSBC Depositer is Named as Labour Donor


More embarrassment for Ed Miliband (aka the scourge of the tax havens) as it is revealed a multi-millionaire who was able to draw over £2 million pound in cash from HSBC’s Swiss bank was also the donor of a similar amount to the Labour Party.

Richard Caring, described by the UK media as a British clothing tycoon and restaurateur, is reported to have stepped out of the Geneva branch of HSBC in September 2005 with 5 million in Swiss Francs (equivalent £2.25m) enough to fill a suitcase (sensibly when carrying that amount of ‘readied’ he was accompanied by a bodyguard).

Obviously, somebody like Mr Caring is a handy man to know as the Labour Party (of which in those days one Ed Miliband was a key figure) found out a few months later when ‘Mr C’ kindly gave them a loan of £2million.

Documents reveal the loan details as follows:

Organisation; Central Party
Nature of transaction; Loan
Date transaction entered into; 25:06:2006
Repayment term; Fixed date
Date repayable; 30:09:2015
Value; £
Rate of interest; 0% until 31:07:2010 then 6.5%

Note: that the first few years of the loan were interest free and Labour probably will not finish paying it back until this year.

Meanwhile Mr Caring is reported by the UK media to have transferred his political affections to the Conservative Party these days – still he was a good mate for ‘Red Eds’, Labour Party, to have at the time of the loan.

J B Moffatt (Mr)
Director of Information


(Please note that replies to correspondence received by the League and posted on CL News are usually scanned hard copies. Obviously every effort is made to ensure the scanning process is accurate but sometimes errors do occur.)


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