Labour rakes in highest ever quantity of personal donations to compete with Tories

Labour raked in its highest ever quantity of personal donations final yr, because the social gathering fills its warfare chest to compete with the Tories’ election machine.

The social gathering continued to obtain funding from commerce unions, however the principle enhance got here from people and firms – who gave greater than £13million in whole. Labour obtained round £19million in money donations general, whereas the Tories secured round £42million. The Liberal Democrats reported round £3million and Reform UK £255,000 in whole money donations for the yr.

Figures additionally present the Conservatives trousered £10million in donations from well being tech tycoon Frank Hester and his agency the Phoenix Partnership (Leeds).

And two Tory MPs donated their very own money to the social gathering in a determined bid to get re-elected. Chancellor Jeremy Hunt handed his native social gathering £18,084 in November – taking the overall he is donated for the reason that final election to £123,345. And John Penrose gave £10,000 to his Weston Super Mare constituency. Polls present each seats are below risk on the subsequent election.

Labour’s largest backer general was former Autoglass boss Gary Lubner, who gave £4.5million, whereas the most important single donation of £3million was offered by Lord David Sainsbury, the long-standing Labour supporter. Lord Sainsbury was a significant donor when the social gathering was final in energy, serving as a minister in Tony Blair’s authorities.He later reduce off his assist to the social gathering because it shifted to the left below Jeremy Corbyn’s management, however returned to the fold in 2022.

Labour Party chairwoman Anneliese Dodds mentioned: “Thanks to Keir Starmer’s leadership, last year was our best fundraising year ever. Labour will turn the page on 14 years of Tory failure with a plan to deliver the change Britain deserves.”

The second highest annual sum for personal donations to the social gathering was £10.8million in 2005. The rise in particular person donations comes as Labour holds a sustained double-digit lead over the ruling Conservatives in opinion polls forward of an election anticipated later this yr.

But the Tories additionally had a profitable fundraising yr, together with a £10million bequest from the late Lord John Sainsbury – the cousin of Lord David Sainsbury and former boss of the household’s grocery store firm. Figures printed by the Electoral Commission present round £41million in personal money donations flowed into the coffers of the central social gathering after a difficult earlier yr.

The Conservatives had recorded an general loss in 2022 amid a yr of political turmoil which noticed three completely different prime ministers enter Number 10.