Labour Loans 'Totalled Almost £14m'

The Labour Party confirmed it had received almost £14 million in loans from individual supporters.

A spokesman said in a statement that a total of £13,950,000 was received and that all loans were "in full compliance" with party funding rules.

The total is considerably higher than the £4 million worth of loans already known to have been given to the party by three millionaire backers in the run-up to last year's General Election.

The Labour spokesman said: "The Labour Party has received £13,950,000 in commercial loans from individuals.

"These loans were taken out in full compliance with the rules of the Political Parties, Elections and Referendums Act.

"As set out in our statement yesterday, the National Executive Committee officers will next week propose that all future commercial loans agreed by the party be declared publicly, including their sources.

"The loans will be recorded in our annual accounts 2006 (covering January to December 2005) in the usual way

"These accounts will be published in June."

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