One of the main topics of conversation in Brighton among Labour Party bigwigs is the financial state of the party. Donations are drying up as few people want to throw money at what they perceive as a lost cause. There's a real fear that the party won't be able to raise enough money to fight a proper and full general election campaign. There is complete and total reliance on the trade unions, especially UNITE, for funding at the moment.
One party source told me: "If UNITE's leadership changed and decided to pull the plug on donations, the consequences could be fatal."
I understand that even at this stage Labour is struggling to meet its annual loan interest payments of £2 million. They cannot pay back their existing loans and in any normal meaning of the term, they are technically insolvent.
Another source hinted that there was more than a possibility that the Party could cease to exist after the election because of its parlous financial state. I raised a quizzical eyebrow at that suggestion, but she was adamant that no one realises just how serious their situation is.
The LibDems will be rubbing their hands with glee.