Label on webpage doesn't display all blank spaces between words

Question

Hi,

I have a label on an AJAX update panel which displays only one blank space between words, even though
the number of spaces between words is more than 1.
e.g.

Label1.Text = "Percentage of loan   paid  out: ";



In the above example the number of blank spaces between the words "loan" and "paid" is 3.
For some reason the label on the webpage displays only 1 blank space beween the words "loan" and "paid".
Can you help?  Thanks in advance.