John Prescott loses Labour treasurer vote

John Prescott has failed in his attempt to become treasurer of the Labour party. The former deputy prime minister was beaten by Diana Holland, a Unite union official and the only other candidate, who won almost 69% of the vote. Prescott had launched a high-profile campaign for the post, warning that Labour was almost bankrupt and saying: "The treasurer has got to say to the central body, in this case No 10: you cannot keep on spending; we damn well haven't got it." Holland succeeds Jack Dromey, the former Unite official who is now Labour MP for Birmingham Erdington. "I will work hard to build a stronger party in all respects, not just financial, and I will make putting us on a sound footing to win the next election my top priority," she said. "I will make recruiting and involving new members a real priority, helping to build a mass membership movement and also helping to secure our finances by maximising small donations from ordinary members and supporters." In a message on Twitter , Prescott said: "Congratulations to Diana Holland on being elected treasurer. Let's all get behind her and help solve our financial problems." The vote took place among Labour members and affiliated unions, with each section getting equal weight. Prescott did better among Labour members, receiving 62% of their vote. But among union members, he received only 0.14%. He said: "I'd also like to thank the 60% of party members who voted for my campaign for real change." Ken Livingstone, Labour's candidate for mayor of London in 2012, topped the poll in elections to Labour's national executive committee. Oona King, who stood against him in the London race, was also elected to the NEC. Ray Collins, Labour's general secretary, told the party's conference in Manchester this afternoon that he hoped Labour would be "debt free" by the time of the next general election. "When it comes to our finances, I want to set the record straight. When I took over, our financial situation was grave, and it remains difficult," Collins said. "But with the support and guidance of the NEC, we have stuck to our long-term strategy of repaying our lenders £2m every year. And by the time of the next general election, it is my hope that we will be debt free."