Tories' election war chest gets £5m boost
Conservative donations are more than all other parties combined
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The conservatives raised more than £5m for their election war chest in just three months – far more than all the other political parties put together.
A series of wealthy donors, including one of Britain's richest men, gave lavish donations, while Lord Ashcroft, the Tory deputy chairman, spent a further £90,000 on the drive to capture crucial marginal seats.
The Electoral Commission announced that the Conservatives received £5,269,186 between July and September, compared with £3,045,377 given to Labour and £816,663 to the Liberal Democrats. Fifteen other parties received £401,372 between them.
The flood of money to the Conservatives echoes Labour's success in attracting large sums before Tony Blair's 1997 general election landslide. The Tories raised £3,236,828 from individual donors, with the largest gift of £252,000 coming from Michael Farmer, a hedge fund manager.
The engineering tycoon Jeffrey Whaley handed over £250,000 and David Rowland, a property developer, gave £140,000, as well as vehicles worth £83,000. Poju Zabludowicz, a property magnate whose estimated £500m fortune makes him Britain's 18th richest man, gave two donations totalling £100,000.
Abduladem Mayet, a company director, contributed £118,000 to Tory coffers. Christian Meissner, who was appointed co-chief executive of Lehman Brothers' activities across Europe and the Middle East a week before the bank collapsed, gave the Tories £31,500. He works for Nomura, which took over Lehman's European and Asian division.
Companies gave a total of £1,635,127 to the Conservatives. They included £250,000 from Warwickshire-based IM Properties, £130,000 from the research arm of mechanical excavator manufacturers JCB, and £125,000 from FIL Investment Management.
The casino operators Aspinalls gave £10,000 to Richmond Park Tories, where Zac Goldsmith is trying to oust the Liberal Democrats. The Newmarket bloodstock auctioneers Tattersalls donated £6,000 to its local Conservative Association in South West Suffolk.
The Conservatives declared receiving gifts in kind worth £493,864 in the third quarter of the year. The largest amount of support – £91,900 – came through Lord Ashcroft's company, Bearwood Corporate Services. The sum covered "consultancy, focus groups, opinion research, printing and related costs". The Tory deputy chairman heads a team charged with directing operations in the marginal seats that hold the key to the election result.
The Electoral Commission is investigating Bearwood's donations, which have exceeded £3m, following allegations that it may not be a genuine UK trading company.
The majority of Labour's donations came from the trade unions, with £760,825 coming from Unison, £601,053 from Unite's Amicus section and £305,150 from its TGWU section. Another £202,557 came from individuals and £194,543 from companies.
The Liberal Democrats' biggest donor was the Joseph Rowntree Reform Trust, which contributed £230,833. Ukip received £86,290 over the period, the Green Party £76,316 and the British National Party £20,100.
The precarious state of Labour's finances was underlined by the disclosure it had £9,768,122 of debts at the end of September, compared with £4,153,939 for the Conservatives and £337,185 for the Liberal Democrats.
Peter Wardle, the Commission's chief executive, voiced concerns about the late reporting of donations. He said: "As the general election approaches, voters will be especially interested in how the political parties are funded and it's important all the information is available to them in a timely manner."
£252,000
Largest gift to Tories, from Michael Farmer, a hedge fund manager.
Source: Electoral Commission
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments