A row has broken out in Britain over allegations of conflict of interest involving two of the Prime Minister's closest political allies who are also regarded as among the most controversial ministers in the government.

The Trade Secretary, Peter Mandelson, has confirmed he received a loan ofthree-hundred-and seventy-three thousand pounds from another minister, Geoffrey Robinson when the Labour Party was in opposition two years ago.

The affairs of Mr Robinson, who in private life is a wealthy businessman, have been under investigation by Mr Mandelson's own department.

But Mr Mandelson has said he has distanced himself from those investigations.

He denies any conflict of interest.

The opposition Conservative Party are calling for a full explanation of the affair