A play which appears to mirror financial crises which engulfed Tony Blair's administration is to open at the National Theatre.

David Hare's Gethsemane has strong echoes of the cash-for-peerages furore and the financial row surrounding Tessa Jowell as Culture Secretary.

A source close to the play told The Guardian a main character is called Otto Fallon, a Jewish music producer from north London, who helped to launch a number of boy bands.

The similarities are striking with Lord Levy, Mr Blair's chief fundraiser who was at the heart of the police probe into allegations that peerages were being sold. Lord Levy, who lives in north London, is a former accountant and founder of the Magnet Records label. He made his wealth managing stars including Chris Rea and Alvin Stardust. The Prime Minister, Alex, is said to be portrayed as a Blair-like regular type of guy. Perhaps greatest comparisons will be drawn between the Home Secretary - a woman called Meredith, and her tycoon husband Jack - and the relationship between Ms Jowell and her husband David Mills.

Mr Fallon deals with a financial crisis which findsMeredith's husband at the centre of a series of court cases. She reportedly offers to the Prime Minister to divorce to ease pressure on the Government. Ms Jowell and Mr Mills split after he was investigated in Italy for bribery claims linked to Silvio Berlusconi, allegations he denies.

The National Theatre insisted the play, opening in November, is not a depiction of the Blair government. A spokesman said: "David has been very clear all along that the play is complete fiction."

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