Centrist Labour think tank Progress could close because of £180,000 funding shortfall

Director Richard Angell believes the group still has a place despite the popularity of Jeremy Corbyn

Richard Angell, director of Progress, is worried about funds

Progress, the centrist movement within the Labour Party, could close if a £180,000 funding shortfall is not met, the group’s director has said.

Lord Sainsbury, the group’s main donor, publicly ended his considerable financial support last week. He donated £260,000 annually to the group’s near £430,000 turnover.

It prompted the group to appeal to supporters for help in making up for the shortfall. It is are also planning to increase membership fees.

“We’re losing a £260,000 a year grant," , Progress' director Richard Angell told The Independent. "If we don’t replace it there is a scenario in which we could close, that’s a real possibility.

“We’re going to try and raise the money, that’s the challenge. But there’s a very real prospect that doesn’t happen and therefore we don’t continue.”

Asked how long Progress had to raise the money, Mr Angell replied: “We’ve got to do it pronto”.

He said fundraising, which will come from Labour members, was “making good ground”.

He added: ”We’ve got a fundraising target, and we’ve met a third of it already. I don’t think there’s another Lord Sainsbury out there but we’re trying to build a network of [individual] donors."

Some members were joining the 100 club, a group which pledges £10 a month or more, he said, adding that they were also looking to start a 1000 club.

“We’re opting for a network of donors and a member led funding model,” he added. “So far, people are being incredibly generous.”

On going public with the news last week, Lord Sainsbury told the The Guardian: “I know that there is much still for progressive politics to do. However it’s time for me to hand the baton on to a new generation of donors who can help take that vital work forward.

“I’ve been proud to support progressive ideas and organisations like Progress and I wish them well for the future.”

Progress, which is closely associated with former Prime Minister Tony Blair, campaigned against Jeremy Corbyn’s leadership.

Many supporters fear Mr Corbyn’s brand of hard left socialism along cannot win an election outright and have also expressed concerns over anti-semitism on his watch.

But despite Mr Corbyn’s overwhelmingly strong position in the party – following two successful leadership contests and a strong election campaign – Mr Angell believes there is still a place for Progress within Labour.

“The role of renewing the ideas of the centre left continues,” he said, “ensuring there is two wings of the Labour party so it can fly.”

He added that it was important for debate within the party to continue.

“Labour needs our tradition within the Labour Party to reach some of the voters our leadership wouldn’t naturally get to,” he said.

While Lord Sainsbury was by far the largest donor, other significant contributors included Lord Matthew Oakeshott, a one-time Liberal Democrat, who gave £29,000 in 2016, and Lord Peter Mandelson, who donated at least £5,000 over several years.