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It may need a divorce from Mr Ashcroft to secure that objective

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It may need a divorce from Mr Ashcroft to secure that objective.. THE NEW Economics Foundation (NEF) is one of the most creative and energetic agencies working for social change in the UK. A just and sustainable economy will not come about purely through rational debate. People must be able to organise as citizens in favour of it. To this extent, the new economy already exists. It encompasses a diverse range of economic activities pursued for social, environmental or personal goals - ranging from worker co-operatives, intermediate technology and organic agriculture through to local currencies. Mr Hague must remove even the slightest trace of sleaze from his party's image. In the meantime, Mr Hague should activate his own party's Ethics and Integrity Committee.

That would not stop Michael Ashcroft or Bernie Ecclestone giving huge sums to the Tories or Labour respectively. But it would start to cool the ardour of a desperate party leader. A pounds 20m cap on national party spending was suggested by Lord Neill. This is why the report last autumn by Lord Neill into the whole question of party funding should now be pursued as soon as possible. The biggest single factor that drives political parties headlong into the arms of rich suitors is the frenzy of spending at each general election. Just when the ugly scandals in the final days of the Tories' administration are fading from the public memory, Mr Hague gets into bed with a man whose vast wealth and colourful business past could revive that damaging reputation.The root of much political evil is, of course, money.

But it certainly fails the Mandelson test - that you should not only do the right thing, but clearly be seen to do the right thing. Mr Hague's party is only just emerging from the "sleaze era". It does not look good, to put it mildly. There may be nothing improper about Mr Ashcroft or his relationship with the Conservative Party. By last night there was also growing evidence that the Major government may have intervened on Mr Ashcroft's behalf with the Belize government.

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