The Conservative party received three times the amount of donations compared to Labour in the most recent quarter. This was largely due to a £10 million contribution from John Sainsbury, a supermarket mogul. This suggests that the Conservative party is set to gain an advantage from the decision made by No 10 to increase election spending limits.
During the three-month period leading up to September, the Tories raised a total of £15.8m for their election funds. In comparison, Labour received £3.1m in private donations from individuals and trade unions, and also received £2.5m of public funding.
Some notable contributors to the Conservative party in the last quarter included Graham Edwards, the party’s treasurer and a real estate executive, who donated £2 million for “administration services,” and Malik Karim, a previous treasurer, who gave £250,000 as a donation.
The party was given £250,000 from Flowidea Ltd, which is owned by Swiss-born banker Sir Henry Angest, and £125,000 from Global Education Holdings, which is owned by Indian executive Vishwajeet Rana.
An additional £70,000 was donated to the Conservative Party by nChain, a company specializing in blockchain technology used in cryptocurrencies. The company is partially owned by Calvin Ayre, a wealthy figure in the gambling and bitcoin industries who was previously in hiding from the US government. Ayre is also involved in the development of hotels in Antigua, where he holds a position as a special economic envoy.
In 2017, Ayre admitted guilt to one misdemeanor charge in the United States, resolving a five-year legal case in which federal prosecutors dismissed more serious charges against Ayre and his company, Bodog Entertainment Group.
In the third quarter of this year, Labour was able to collect a total of £3.1 million in donations, bringing their total donations for 2023 to £15 million. Additionally, the party has been granted £6.8 million in public funding.
The top contributor to the party, Gary Lubner, previously in charge of Autoglass, donated £687,500, bringing his total contributions for the year to £3 million. He has promised to donate an additional £5 million before the upcoming election.
In addition, the party was given £250,000 by ex-professional poker player Derek Webb, who supports the Campaign for Fairer Gambling. This adds to the previous donation of £40,000 in March, as well as a separate donation of £100,000 from financier and former Goldman Sachs banker David Blood.
Under the leadership of Keir Starmer, the Labour party has seen a significant rise in donations from private individuals. This increase comes after a decline in donations during the New Labour era. So far this year, the party has received over £10 million in donations, marking it as their most successful fundraising year outside of a general election.
Ignore the promotional newsletter.
after newsletter promotion
The spending limits for general elections were recently increased by the Conservatives from £19m to £34m, resulting in a competition among parties to raise and spend more than ever before in the 2024 election.
Thus far, the Conservative Party has received larger donations, including £10 million from Sainsbury, £5 million from former Egyptian government minister Mohamed Mansour, £5 million from healthcare executive Frank Hester, and £4.5 million from Edwards.
In the third quarter of 2023, the Liberal Democrats received a total of £2.4m in donations. This amount includes a £100,000 contribution from former aircraft parts supplier Stephen Gosling. In total, the party has raised £6m for the year.
Source: theguardian.com
