We recently reported that as a result of cashflow crisis LibDem HQ was slashing 25% of staff. In a highly unusual move Guido understands there is to be an emergency meeting of the Lib Dem board and the finance subcommittee to discuss party finances tomorrow evening (Tuesday). It is almost unheard of for there to be such a joint meeting.

Cable’s low-wattage leadership is proving disastrous and the imminent prospect of a well funded centrist, pro-EU rival with glitz and glamour from Chuka, David Miliband or, errr, Chris Leslie is another deterrent to donors. Whereas in the past £700,000 could have been loaned in an emergency by a rich backer in need of an honour, they are less likely to support a dead parrot of a party. Never a good idea to write off the Liberals, a rival party however could be the final nail in the coffin that was built for them in 2015 by Lynton Crosby…