Keeping the Red (Bull) flag flying

The Labour Party\'s proud and iconic red flag has been left in tatters after revelations that a proposed new website for the party would carry sleazy and unfounded personal stories about leading figures in other political parties dreamt up by Prime Minister Gordon Brown\'s now discredited director of strategy Damian McBride.

But rumour has it that a new red icon for the party is being trialled by City minister Lord Myners – Red Bull.

Allegedly, he has the irritating habit of swigging back cans of the performance enhancing substance at his regular meetings with mortgage lenders in his capacity as first secretary to the Treasury .

Apparently it’s not the brand that troubles lenders but the idea that he can’t guzzle the ghastly liquid and listen at the same time.

This might just explain how Lord Myners inadvertently signed off Fred the Shred’s infamous £17m pension deal, otherwise as a one-time chairman of the Low Pay Commission he would have surely have noticed it.