Are political parties bankrupt?

There was a debate last night at the Orwell Prize shortlist entitled "Are political parties bankrupt?"

There is a good summary over at Labour List and it is worth a read.

It featured journalist Nick Cohen, MP Frank Field, David Davis, and author Douglas Murray.

This though from Frank Field who is alarmed that

the world he grew up in is disintegrating. Bob Dylan comes to mind, but he says the country is facing a ‘huge danger'. He says he is annoyed that journalists aren't covering the House of Commons. He says that the belief on the left that state spending is good is about to collapse, in an attempt to get respect for our currency internationally. He is alarmed at the level of government borrowing, and says he worries aoubt whether or not the government will actually be lent it.