BNP leader Nick Griffin declared bankrupt but will stand again in Euro elections (and is writing a leaflet on dealing with debt!)
- Earns a salary of £76,000 as an MEP plus generous Brussels allowances
- Owes £120,000 to solicitors hired to fight European Commission, court told
- Insists it will not stop him standing in Euro elections in May
He brushed aside the idea that his financial problems would end his political career and revealed he is writing a booklet on dealing with debts.
As an MEP Mr Griffin enjoys a basic salary of around £76,000, plus extra basic allowances worth £46,000 with more for travel and accommodation.
A listing at the Insolvency Service showed Mr Griffin was declared bankrupt at Welshpool and Newtown County Court yesterday.
The BNP said that Mr Griffin had run up debts of £120,000 to solicitors Gilbert Davies & Partners, which represented him in the early stages of legal action against the European Commission.
He had offered to repay 42p for every pound he owed to all his creditors but this was rejected by the courts.
Politicians declared bankrupt used to be barred from seeking election again, but the rules were changed in 2002 meaning it no longer prevents someone from being an MP or MEP, or standing for election.
In a statement Mr Griffin said: 'This order will not prevent me fighting for the interests of the British people or leading the British National Party to a fresh round of electoral victories.
'It’s of no political significance whatsoever. I will take whatever is thrown at me and deal with it.
'I champion the right of the British people to their land and I will never surrender.
'On a practical note, I am now much better able to advise and help the huge numbers of decent ordinary folk in my constituency who have financial difficulties of their own.
'I will be producing an advice booklet on dealing with debt very shortly and can speak from personal experience rather than from an ivory tower in Brussels.'
Mr Griffin will be automatically discharged from bankruptcy in one year, on January 2 2015, in accordance with the Insolvency Act. He was elected for the North West region of England in 2009.
Advice published by the Electoral Commission said bankruptcy in itself does not bar someone from being a member of the European Parliament or standing for election.
Restrictions are only triggered if an individual is made subject to a bankruptcy restrictions order or debt relief restrictions order.
The Insolvency Service said such orders had not been made in Mr Griffin's case.