LABOUR’S preparations for a General Election have been boosted by a £4.6m tax rebate, it was revealed last night.
The party’s annual accounts show the sum was handed over by HM Revenue & Customs after a landmark court ruling on VAT overpayments.
The windfall helped drive down Labour’s net debt from nearly £19m to £17.5m during 2008. Outstanding unsecured loans, including interest, stood at £11m.
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