Some Thoughts About Loans And Lord Yates

A good night's sleep has reinvigorated my political brain. How could I possibly have harboured concerns about the Great Visitor To The Palace being detained at Her Majesty's pleasure?

• The thoroughness of Yates' investigation is in everyone's interest, just as was Lord Hutton's inquiry into the death of Dr. David Kelly. Its longevity is of similar importance, as this will divert attention away from the original issues just as Hutton managed to do so effectively. It wouldn't have helped the Labour Party if people had found out that we had suppressed the investigation and, conversely, when it comes to the "correct" conclusion we will come up smelling of roses and the Tories and LibDems will look like a bunch of smear-merchants.

• At the head of the legal pyramid in this country is Peter Henry (Baron) Goldsmith, Attorney General of England and Wales. At a time when the rabble was questioning the legal basis for the invasion of Iraq, it was Lord Goldsmith who ruled that the use of force in Iraq was lawful and thus paved the way for British involvement. Goldsmith has said that if a prima facie case is made on cash-for-honours, he "will appoint an independent senior counsel to review all the relevant material and to advise on prosecutions." Challenged on BBC Radio 4's Today programme, however, he made his position clear: "I am the only person who is answerable to Parliament for the prosecutions that take place in this country." Lord Goldsmith is a close political ally of The Great Leader, a former Labour Party donor and was nominated for his peerage by Tony. So he could even be a subject of the investigation as well as its overlord. But he's a tough guy. Whereas the DPP Ken Macdonald and the Met Police Commissioner Sir Ian Blair have both stood aside claiming conflict of interest, Goldsmith is still sticking in there, telling the BBC this Tuesday that there is "no question" of him standing aside from the cash-for-honours probe. So we are not expecting any big surprises when the decision is made!

• The Labour Party has extremely good lawyers who would have been asked for advice about the legality of any fund-raising - does anyone really think a political party would risk doing something illegal just to be able to afford to retain its staff, keep its building and have any hope in hell of mounting an effective campaign for a fourth term?

• If there was anyone around in the Cabinet or amongst No. 10 staff who Tony could have made a fall guy for all this, isn't Blair ruthless enough that he would have asked them to publicly fall on their swords and accept personal responsibility?

Taking everything into account, I'm comfortable that everything will run smoothly.

And if there are any signs of trouble, I'm sure we will be able to get Alastair and Mandy back to help dig us out of the s**t.

And, as an absolutely last resort, there is always the possibility that Her Majesty may decide to pronounce "Arise, Sir John".

Maybe she can squeeze him in behind Sir David Beckham, so the paparazzi have already disappeared off chasing Victoria and nobody notices the police honour.