BRITAIN: The Liberal Democrat leadership was yesterday under pressure from within its own ranks over a decision to accept £2.4 million in donations from a company owned by a Swiss-based financier.
The Electoral Commission confirmed last night it was investigating whether donations from 5th Avenue Partners complied with the law banning political parties from accepting foreign money.
If the rules have been breached, the party could be forced to hand back the money, dealing it a crippling financial blow. Although party officials expressed confidence that they had acted properly, some senior figures expressed disquiet at the decision to accept such a large sum from one source.
"We were on difficult ground accepting such a large donation," the Liberal Democrat peer Lord Greaves told BBC Radio 4's The World at One.
By law, any company donating to a British political party must be registered at Companies House and trade within the UK. According to The Times, 5th Avenue Partners - wholly owned by a Swiss company belonging to the financier Michael Brown - was only established in June last year.
Mr Brown, however, said that he would be "delighted" if the party was ordered to return the money as he would be able to give more to his charitable foundation.
"If the people who handled my donation were elected to run the economy, I would not be happy - it would be disastrous," he said. - (PA)