Political donations to Tories nosedive amid leadership chaos
Political donations to Tories nosedive by almost HALF amid leadership and economic chaos as money moves to Labour with party miles ahead on the polls
- Tories received £2.9m in the third quarter of 2022 between July and September
- That was down from £5.3million in the second quarter of the year, figures show
- Labour received £4.7 million in donations in Q3, up from £3.8million in Q2
The Tories suffered a massive slump in donations as the party was driven apart by leadership chaos and economic strife gripping Britain earlier this year, new figures reveal today.
The party received £2.9million in the third quarter of 2022 between July and September, down from £5.3million in the second quarter of the year.
The slump came at a time when Boris Johnson quit as prime minister and was replaced, eventually, by Liz Truss after a leadership campaign against Rishi Sunak driven by internecine sniping.
It also includes the period when she and her chancellor Kwasi Kwarteng held their mini-Budget, which spooked the markets and sent borrowing rates soaring.
Labour, by contrast, received £4.7 million in donations in Q3, up from £3.8million in Q2, according to the Electoral Commission.
The party received £2.9million in the third quarter of 2022 between July and September, down from £5.3million in the second quarter of the year.
Labour, by contrast, received £4.7 million in donations in Q3, up from £3.8million in Q2, according to the Electoral Commission.
The figures come as Labour confidence grows ahead of the next general election, with Sir Keir Starmer’s party fresh from a resounding victory in the Chester by-election last week and polling strongly ahead of the Tories.
A Labour party spokesperson said: ‘Donors are coming back to Labour because they can see we are a changed party that is serious about getting into government and building a fairer, greener, more dynamic Britain.
‘We are very grateful for all support, large or small, as we gear up to fight the next general election.’
The party is understood to be expecting to record even higher donation figures in the next quarter.
The Liberal Democrats recorded around £1.7 million, according to returns submitted to the Electoral Commission, with more than £11 million in total donated to 19 separate UK political parties.
The Scottish National Party (SNP), led by Nicola Sturgeon, received £396,000 from July to September.
Louise Edwards, the Electoral Commission’s director of regulation, said: ‘Parties are legally required to check the donations they accept are from permissible sources and to report these to us.
‘While these laws help voters to understand where political donations come from, reforms are needed to modernise and further safeguard the system.
‘We have recommended for some time that the UK Government and Parliament work with us to improve donation controls and increase confidence in the UK’s political finance regime.’
Labour has now been ahead in Redfield & Wilton Strategies polls for a year – with the latest gap 22 points
Mark Pawsey has become the 14th Tory to declare they will quit the Commons at the next election – with Labour seemingly on track for a landslide win.
As a deadline set by Tory chiefs for politicians to declare their intentions passed last night, the Rugby and Bulkington MP said he had decided not to stand again.
With Labour miles ahead in the polls, the UK facing the worst fall in living standards in a generation, and constituency boundaries being redrawn many are mulling walking away from Parliament.
On Friday former Chancellor Sajid Javid become the most senior figure to announce his departure ‘after much reflection’.
However, Liz Truss will not be joining pre-election exodus of Tory MPs. It is understood the former PM will defend her South West Norfolk seat despite the disastrous end to her brief spell in Downing Street.
Boris Johnson has also told his constituency association that he is intending to stay on.
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