The Nationalist Party’s loan scheme announced a few days ago had been drawn up as a workaround to the Political Parties’ Financing Act, on which the PN dragged its feet for 25 years.
In a statement this afternoon, the Labour Party said that the Opposition leader had confirmed that the scheme was secret, not guaranteed and lacked transparency but the party was still going ahead with it.
Through the scheme, the PN would take loans of €10,000 at four per cent interest, repayable after 10 years.
Although Opposition leader Simon Busuttil said cash would not be accepted, the scheme was still anonymous and names would not be published, the PL said.