Lord Oakeshott gives cash to Labour and Greens to fight Tories in marginal seats

He called on voters to support whichever candidate from the progressive left had the most chance of defeating the Conservatives

Lord Oakeshott is to help fund the fight against the Tories

A Liberal Democrat peer who was forced out of the party over his role in an attempt to depose Nick Clegg is to give £600,000 to Labour and Lib Dem MPs fighting the Tories in marginal seats.

Lord Oakeshott plans to donate £30,000 each to 15 Lib Dem MPs and candidates fighting the Tories, and £10,000 to 30 Labour MPs in marginals. He is also giving £10,000 to help former Green leader Caroline Lucas hold her Brighton seat.

In an article the City financier said the donations were intended to help candidates who he believed would pursue “progressive” politics, keep Britain in the EU and “save our country from a Tory government clinging to Ukip”.

He called on voters to support whichever candidate from the progressive left had the most chance of defeating the Conservatives, to ensure a future government was led by Ed Miliband.

But Lord Oakeshott is not giving money to Vince Cable, who was forced to distance himself from his former friend last year after he paid for polling designed to undermine the leadership of Mr Clegg.