Pounds 14bn Tycoon Donates Pounds 2m to Labour Party

The JournalJanuary 17, 2007

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Summary


INDIAN steel tycoon Lakshmi Mittal has made a pounds 2m donation to Labour, it was announced yesterday. Mr Mittal is reputed to be Britain's richest resident, with a fortune estimated at more than pounds 14bn, and has made several generous gifts to the party before.

Labour sources said the money would not be used to pay off other millionaire backers who made loans totalling pounds 14m in the run- up to the 2005 general election, some of which are coming due for repayment.

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Pounds 14bn Tycoon Donates Pounds 2m to Labour Party

In a statement, Mr Mittal ...

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