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Labour MP suspended as party launches investigation into Covid loans
Labour launched an internal investigation after The Times reported questions over Alaba Properties Ltd and a bounceback loan, with around 70,000 firms flagged in the process, officials said.
- The Labour Party suspended Southend East and Rochford MP Bayo Alaba amid questions about taxpayer-funded COVID-19 bounceback loans after Alaba referred himself for investigation.
- Records show Alaba Properties Ltd attempted to wind up operations on March 16, 2022 and August 17, 2022, but both dissolution attempts were blocked due to outstanding debts.
- Alaba admitted accessing two bounceback loans during the pandemic, stating, "There has been no attempt to avoid my financial obligations," and confirmed he is currently repaying both.
- Shadow Cabinet Office minister Mike Wood called the revelations "concerning," stating, "Alaba needs to come clean about whether he tried to avoid paying his debts."
- The Labour Party confirmed an investigation is underway to ensure high standards are upheld, clarifying the suspension implies "no finding of wrongdoing" while the process continues.
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Labour Party Suspends Bayo Alaba While It Investigates MP's Failure To Pay 'Covid' Loan
The Labour Party has suspended Bayo Alaba, MP for Southend East and Rochford, over a business loan taken out through the government's Bounce Back Loan Scheme. Alaba was prevented from winding up a business due to an unpaid loan of £50,000 ($67,676), which was released during the pandemic. While Alaba is suspended, the party will commence an investigation. A Labour Party spokesperson said: 'Bayo Alaba MP has referred himself to the Labour Party s…
·United Kingdom
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Coverage Details
Total News Sources11
Leaning Left3Leaning Right5Center2Last UpdatedBias Distribution50% Right
Bias Distribution
- 50% of the sources lean Right
50% Right
L 30%
C 20%
R 50%
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