The Conservative Party has gone into the bookselling business as part of efforts to pay off an estimated �12m overdraft.

I am delighted to know that my work is helping a party that find themselves in such an unfortunate position

Paul Flynn, author and Labour MP

The party has opened an online shop in conjunction with specialist Westminster store Politico's.

The venture raises the prospect of books by Labour authors swelling Tory party funds.

Works by David Blunkett and Peter Mandelson already feature on the site, alongside Tory favourites Margaret Thatcher, Alan Clark and Ann Widdecombe.

Each book sold will generate a small donation to Tory party funds.

Encouraging donations

Tory vice-chairman Roger Gale said: "We are leading the way in using the internet for campaigning, communication and now fund-raising purposes.

We intend to show that state funding of political parties is not inevitable

Roger Gale, Conservative vice-chairman

"(US) Senator John McCain's primary campaign trailblazed the way, and we are adopting cutting edge technology and techniques from both sides of the Atlantic."

He claimed the internet was just one way the Tories were "broadening their funding base", by encouraging large numbers of small donations.

"We intend to show that state funding of political parties is not inevitable," Mr Gale added.

Further donations

The Tory site - http://shop.conservatives.com - showcases the party's new, more inclusive image, with a volume on the principles of "compassionate Conservatism" currently taking pride of place.

It also includes novelty items such as "Don't Blame Me - I Voted Conservative" mugs and Tony Blair golf balls and a book of jokes about New Labour.

Keen Tory supporters will also be given the chance to make a further donation when they buy a book from the website.

'Money well spent'

Labour MP, Paul Flynn, whose book Commons Knowledge: How to be a Backbencher is on sale through the Tory site, said he did not mind his political opponents profiting from his work.

"I am delighted to know that my work is helping a party that find themselves in such an unfortunate position," he told the ePolitix.com website.

"They are a far more deserving case than I am."

He said the Tories situation was "so dire" he would happily make donations to them "in the interests of democracy and building up a credible opposition".

"I think it would be money well spent," he said.