Hedge fund chiefs donate £1.3m to Tory party in just 12 weeks
Hedge fund chiefs have donated £1.32m to the Conservative Party in the space of only three months, official figures revealed yesterday.
The money from 18 individuals and companies made up around a quarter of the total amount given to the Tories between September and December 2013, the latest Electoral Commission figures show. Longstanding Tory donor Michael Farmer, of RK Capital Management, gave the largest donation out of the group, with £267,000, followed by James Lupton of Greenhill with £259,000 and Christopher Rokos of Brevan Howard, who donated £230,000. Ten of the 18 donors, including these three, attend the exclusive leaders' group dinners with David Cameron and other senior Cabinet ministers.
Labour claimed the figures showed that Mr Cameron relies heavily on funding from hedge fund bosses. Michael Dugher, shadow Minister for the Cabinet Office, linked the donations to George Osborne's scrapping of stamp duty reserve tax on funds, worth £145m to hedge fund companies.
In total, hedge fund bosses have donated more than £38m to the Tory party since Electoral Commission records began. Mr Dugher said: "David Cameron is wining and dining the mega-rich to line his party's pockets. Is it any wonder he is so out of touch with ordinary families suffering a cost-of-living crisis? Mr Cameron is taking money from the very people who are benefiting from his policies, such as a millionaire's tax cut and his refusal to repeal the bankers' bonus tax.
"This government prioritises the interests of the privileged few who dine with the PM, not Britain's hard-working families."
Before what is expected to be a bitter and expensive election next year, all political parties are raking in more cash than a year ago. The Tories received £4.8m, Labour raised £3.2m and the Lib Dems £1.3m. The largest donation to the Tories during the quarter was a bequest from an 85-year-old widow, Violet Baker, who left £769,000, to the dismay of her Labour-supporting relatives. A Tory spokesman said: "All donations have been declared in the correct way."
- 1 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 2 Dog thinks owner is drowning in lake, dives in and tries to pull him out
- 3 Thank heavens for Louise Mensch and her foul-mouthed tweets to world leaders
- 4 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 5 Phil Neville backtracks on Tomas Rosicky 'I'd smash him' comments from Match of the Day 2
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Greece elections: Greek PM Alexis Tsipras takes aim at 'neo-liberal' Europe as country gears up for prolonged austerity battle
Auschwitz liberation 70th anniversary: Woman sent to three Nazi death camps describes surviving gas chamber
Prince Philip set to be knighted by Australia: Celebrate by reading his greatest gaffes
New York snow: Winter Storm Juno downgraded as 'one of the largest snowstorms in history' fails to show
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
Leaked documents show Ukip leaders approve NHS privatisation once it becomes more 'acceptable to the electorate'
competitive + benefits: Sauce Recruitment: An award-winning global multi-media...
£26017.21 - £32521.19 per annum + OTE $90,000: Sauce Recruitment: My client is...
Negotiable: Recruitment Genius: This leading provider of UK Magento hosting so...
£16000 - £19000 per annum: Recruitment Genius: A unique opportunity has arisen...