Place your bets: Sir Mittal of Labour

Lakshmi Mittal, the Chairman and Chief Exec of the Mittal Steel Company and multi-billionaire has made a donation to the Labour Party of £2 million. this is from him personal fortune of £14.8 billion.

Mr Mittal was the centre of controvesy in 2002 when Tony Blair backed his bid for a Romanian company shortly after he donated £125,000 to the Labour Party. The row was imaginatively dubbed "steelgate".

Anyway, onto business. I'll give you odds of 5-3 for him to be given a knighthood in the next 12 months, 4-1 for the next 6 months and a 15-1 accumulator on him sitting in the House of Lords by the end of 2006.