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Political parties accepted a record amount in donations and loans last year, according to figures released by the Electoral Commission today.

During 2019, the Tories accepted £52,645,437, Labour £24,751,364, the Liberal Democrats £19,815,705 and the Brexit Party £11,587,851.

This is almost £40 million more than in 2017, the year with the previous largest value of donations.

It was also a record fourth quarter last year, the period which covered the December general election, with 14 political parties reporting £70,113,414 in donations and public funds.

The Tories accepted more than £37 million in that quarter, while the Liberal Democrats received £13 million and Labour around £10 million.

Louise Edwards, the EC’s director of regulation, said: “The value of donations accepted in the last quarter exceeded the previous high by almost £28 million.”

The independent body oversees elections and regulates political finance in the UK.