I'm not convinced that the police really needed to arrest Lord Levy to question him about his role in getting loans for the Labour Party.
What I am convinced about is that to restore public faith in the party funding system we need:
a) at least some element of state funding or match funding to create a more level playing field between the parties and reduce the need for donations and loans and thereby insinuations of "buying influence"
b) an elected House of Lords so that the honours system does not include the award of seats in the legislature
c) a lower cap on national general election spend than the current £20m to reduce the amount of funding the parties need - most of the £20m is in any case wasted on billboard and newspaper advertising that has zero impact on how people vote