Labour Party adjusts election loan amount

? Prime Minister Tony Blair’s Labour Party said Friday it had received almost $25 million in loans from donors before the 2005 British national election, a figure far higher that previously declared.

The announcement came during an investigation into the finances of Blair’s party, which has been accused by opposition lawmakers of accepting loans – which do not need to be publicly disclosed under electoral laws – in return for awarding honors and titles.

Previously, Labour said it has received about $7 million in loans from three party supporters.