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28/11/2006
Details of party loans published
The main political parties have outstanding loans totaling around £60 million, the Electoral Commission has revealed.
According to the Commission, at the end of September the Conservatives owed more than £35 million, while Labour had debts of more than £23 million. The Liberal Democrats owed £1.1 million.
This is the first time that political parties have had to declare loans of more than £5,000. This is due to legislation which was brought in following the cash-for-honours scandal, which is currently being investigated by the Metropolitan Police.
It was also revealed that the Conservatives had received £4 million in donations, while Labour received £3.2 million and the Liberal Democrats revealed £1.1 million, during the third quarter of this year.
However, the Electoral Commission pointed out that some parties were still failing to report donations on time, which has been a statutory requirement for the last five years. Labour declared £207,155 worth of donations late, compared to £168,259 for the Conservatives and £23,181 for the Liberal Democrats.
Electoral Commission Chief Executive Peter Wardle said that it was "unacceptable" that the Labour Party had failed to report what was a "significant amount of donations" on time.
(KMcA)
According to the Commission, at the end of September the Conservatives owed more than £35 million, while Labour had debts of more than £23 million. The Liberal Democrats owed £1.1 million.
This is the first time that political parties have had to declare loans of more than £5,000. This is due to legislation which was brought in following the cash-for-honours scandal, which is currently being investigated by the Metropolitan Police.
It was also revealed that the Conservatives had received £4 million in donations, while Labour received £3.2 million and the Liberal Democrats revealed £1.1 million, during the third quarter of this year.
However, the Electoral Commission pointed out that some parties were still failing to report donations on time, which has been a statutory requirement for the last five years. Labour declared £207,155 worth of donations late, compared to £168,259 for the Conservatives and £23,181 for the Liberal Democrats.
Electoral Commission Chief Executive Peter Wardle said that it was "unacceptable" that the Labour Party had failed to report what was a "significant amount of donations" on time.
(KMcA)
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