Millionaire Sykes ready to support party's anti-euro election campaign

Paul Sykes, the Eurosceptic multi-millionaire, confirmed yesterday that he will meet senior Tories at the conference this week to discuss support for the party's anti-euro campaign during the general election.

Paul Sykes, the Eurosceptic multi-millionaire, confirmed yesterday that he will meet senior Tories at the conference this week to discuss support for the party's anti-euro campaign during the general election.

The Yorkshire businessman dismissed reports that he was ready to put £20m into Tory coffers, but admitted he was in negotiations about how he might contribute to the cause.

However, The Independent has learnt that Mr Sykes, who quit the Tories before the last election in protest at John Major's "wait and see" policy on the euro, has now finally rejoined the party as a member.

Tory sources confirmed that Mr Sykes would meet the party's chief executive, David Prior, this week but could not comment on any possible donation. It is understood that a more likely figure of £2m may be offered, although some senior Conservatives are wary of accepting such a large amount.

Mr Sykes denied offering £20m to the Tories. He told BBC Radio 4's Broadcasting House programme: "There is nothing financial that has been mentioned ... I would never go to any meeting offering money."

Mr Sykes revealed yesterday that he had contributed up to £500,000 to the anti-euro campaign in Denmark, a fact that has infuriated pro-euro supporters in the country.

Adverts used by the Danish "no" campaign featured senior European figures such as the President of the European Commission, Romano Prodi, alongside quotations about their ambitions for European integration.

Mr Sykes said: "I think they [the adverts] made some people in Denmark aware for the first time of the political implications to their national sovereignty of joining the euro and that is why they rejected it."

But Robin Cook, the Foreign Secretary, said the money represented "manipulation" of the vote. "I am sure the people of Denmark will be dismayed," he said. "They made it clear all along they were opposed to external interference.

"Paul Sykes has made clear his real objective is Britain's withdrawal from the EU. The British people would be rightly suspicious that any donation from Paul Sykes to the Tory Party would come with strings attached."

The Conservative MP Ian Taylor, a council member of the Britain in Europe pressure group, urged his party not to accept any money from Mr Sykes, saying: "The Tory Party would be wise to distance themselves from the likes of Paul Sykes."