LABOUR has releasing the names and amounts of all commercial loans given by individuals to the party, totalling £13,950,000, as it desperately tries to rescue its reputation which has become mired in the “cash for honours” scandal.

LABOUR has releasing the names and amounts of all commercial loans given by individuals to the party, totalling £13,950,000, as it desperately tries to rescue its reputation which has become mired in the “cash for honours” scandal.

A party statement says “The loans were given and received in good faith, and would have been registered in the appropriate way in our annual accounts. As the Electoral Commission made clear, if a loan is made on a commercial basis there is no requirement in law to disclose it.

“All rules as set out in the Political Parties, Elections and Referendums Act 2000 have been strictly adhered to.”

The statement adds: “Healthy democracies need healthy political parties. Engagement with voters is a key responsibility for all political parties. The Labour Party is grateful for all financial support it receives, whatever the amount, to allow it to campaign effectively.”

Commercial loans given by individuals to the party, but kept in an account separate from the main campaign fund, were:

Rod Aldridge - £1m

Richard Caring - £2m

Gordon Crawford - £500,000

Professor Sir Christopher Evans - £1m

Sir David Garrard - £2.3m

Nigel Morris - £1m

Sir Gulan Noon - £250,000

Dr Chai Patel - £1.5m

Andrew Rosenfeld - £1m

Lord David Sainsbury - £2m

Barry Townsley - £1m

Derek Tullett - £400,000