No charges on 'cash for honours'
Four people were arrested - including two of Tony Blair's aides - during inquiries into whether honours were sold and whether a cover-up followed.
Police interviewed 136 people, including former prime minister Tony Blair. All denied any wrongdoing. SNP MP Angus MacNeil, whose complaint prompted the investigation, said the outcome was "quite extraordinary". BBC political editor Nick Robinson says Scotland Yard is preparing to make a public defence of its officers.
Funding Facts: (Via Guido)
* 80% of Labour's election funding came from the covert Loans for Lordship program.
* Every donor who has given the party more than £1 million has been given a knighthood or a peerage.
* Three quarters of those individuals who have given more than £50,000 to the Labour Party since 2001 have received an honour.
This was John McTernan, Blair's Director of political operations, who helped draw up names for honours, on Newsnight: