Alan Sugar has quit the Labour party because he thinks it's anti-business

The Apprentice star says he waited until after the election to leave

(PA)

Apprentice star Alan Sugar has quit the Labour party over the party’s policies on business.

The businessman, who has worked with Labour for 18 years, accused the party of being “anti-enterprise” and said he had lost confidence in its policies.

“In the past year I found myself losing confidence in the party due to their negative business policies and the general anti-enterprise concepts they were considering if they were to be elected,” he said.

Lord Sugar, who until now as a Labour peer in the House of Lords, says he raised the perceived issue with senior figures in the party several times over the last parliament.

He said in a statement that he had decided to wait until after the election to resign because he was a “loyal person” and did not want to damage the party’s chances. His resignation was accepted on Friday.

“I have no wish to stick the boot into the party. There are many good people in Labour working hard every day to serve the public, and I wish them all the best,” he added.

The peer said he would continue in the House of Lords “representing the interests of business and enterprise in the UK”, presumably as a cross-bench peer.

The peer has previously featured in Labour party political broadcasts and been a high-profile business ambassador for the party.

A number of New Labour figures, including Lord Hutton, Alan Johnson, Tony Blair, and Peter Mandelson, have criticised Ed Miliband's leadership of the party for its attitude to big business.