Both The Times and Guardian newspapers reported the secret loan from Morain Investments and The Times said the identity of the lender was known to at least the Tory party’s treasurer and chairman.
Although the news was described as ‘unwelcome’ by Chief Minister Frank Walker, he said there was clearly nothing ‘improper, illegal or untoward’ about what had taken place.
He said the Labour and Conservative parties had accepted loans from a variety of donors both from within the UK and elsewhere.
‘This is bound to happen when political parties are seeking to raise money to fight elections,’ he said.
