Stuart Wheeler loses Lisbon challenge

Stuart Wheeler, the rakish spread-betting tycoon, lost his legal challenge to Gordon Brown's decision to ratify the Lisbon Treaty today, thus removing last obstacle to Britain's ratification of the infamous treaty. At the heart of Wheeler's challenge was the question of whether a political party's election manifesto - Labour had pledged to hold a referendum on the issue - was legally enforceable and whether the public had a "legitimate expectation" to see measures set out during an election campaign enacted.

The Government argued that the Lisbon treaty is different from the previously-proposed European Constitution on which Labour promised a popular vote. This was accepted by the courts. Never the less, Wheeler, who made more than £30 million from spread-betting firm IG Index, intends fighting on. He said: "I have high hopes of winning on appeal. We shall apply to the Court of Appeal for permission to appeal and we will see what they say." ·