Summary
An election watchdog threatened to use legal powers against political parties last night to force them to reveal further details about secret loans. The Electoral Commission has been given assurances by Labour and the Tories that none of the controversial arrangements broke rules on transparency. But it claimed last night it still had doubts over whether all the loans were made on commercial terms - avoiding the need for them to be publicly declared.
If preferential rates of interest were being charged, or the money was never expected to be paid back, the funding would have counted as a donation.See the full content of this document
Extract
Watchdog Bares Teeth at Parties Over Secret Loans
All parties were given until 5pm to give the commission details of any loans, a deadline which was met by the three main parties and several others. But the commission demanded fur...
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