60 per cent of Tory party donaction in Q3 2011 come from finance and city new GMB analysis shows

1 December 2011

Never in the history of political party funding have so few bought so much political influence for so little says GMB

Total donations to the Tory Party in the third quarter of 2011 were £2,891,436 according to the recent figures published by the Electoral Commission. The donations from companies and individuals linked to finance, hedge funds, private equity, property and other city activities were £1,684,708 according to a new GMB analysis of the data. This is 58.3% of the total. In notes to editors below the details re each donation are set out a line by line with those linked to City and finance set out first.

The analysis shows that donations were made by 37*on the Sunday Times Rich list. See note 2. These include JC Bamford, ranked 36th with £1,650; Edwin and Carol Healey, ranked 40th with £1,500m; Chaim P Zabludowicz, ranked 40th with £1.5bn; Peter A Cruddas, ranked 90th with £750m; David Harding, ranked 196th with £410m; Ralph Northumberland, ranked 248th with £315m; Zac Goldsmith, ranked 257th with £300m; Peter Hambro, ranked 277th with £271m; Paul M Ruddock, ranked 278th with £270m; Richard Q Hoare, ranked 282nd with £260m; Alan J Lewis, ranked 291st with £250m; Michael G Clare, ranked 305th with £237m; Hugh E Osmond, ranked 309th with £232m; Peter R Harrison, ranked 337th with £200m; Nick Leslau, ranked 371st with £185m; Robert J Madejski, ranked 393rd with £175m; Richard D Harpin, ranked 410th with £170m; Stanley Fink, ranked 533rd with £120m; Alan and Julia Bekhor, ranked 650th with £110m; Aidan Heavey, ranked 679th with £106m; Simon Robertson, ranked 694th with £103m; Edwina A Herrmann (wife of Jeremy Herrmann, ranked 697th with £102m); Michael S Farmer, ranked 703rd with £100m; Jeremy Isaacs, ranked 751st with £95m; Hilda Worth, (wife of Marc Worth, ranked 751st with £95m); David Ord, ranked 813rd with £87m; Malcolm Scott ranked 817th with £85m; Michael Davis, 871st with £80m; Charles F Wigoder, ranked 959th with £72m; John W Leavesley ranked 1,050 with £65m; Michael Slade, ranked 1,135th with £60m; Lord Dolar Popat ranked 1,194th with £59m; Carolyn Ward, (wife of Anthony Ward, ranked 1,237th with £55m); Paul A Beecroft, ranked 1,320th with £50m; Neil Record, ranked 1,394th with £49m; Nicholas D Jenkins, ranked 1,474th with £45m; Simon Wolfson, ranked 1,474th with £45m.

Earlier this year a report “found that of the 498 Tory MPs and peers 134 have been or are employed in the financial sector, this includes 70 of the party's 305 MPs. Among the 193 Conservative peers, more than a third work or have worked in finance or banking.' See note 3. 23 ministers in the coalition cabinet are from millionaire elite.

Paul Kenny GMB General Secretary said “These latest figures show that nearly 60% of donations to the Tory Party are from companies and individuals linked to finance, hedge funds, private equity, property and other city activities.

Never in the history of political party funding have so few bought so much political influence for so little.

The Tory Party is increasingly being funded by the asset strippers and predators. That is why the Tories want to make it easier to sack workers without recourse: spurred on by Adrian Beecroft the private equity linked donor on the list below- and also on the rich list. They are the same old nasty Tories now in the pockets of the predatory elite. This is why they have yet to lift a finger against the bankers who caused the recession in 2007.

The same vested interests called for the failed deflationary policies of 700,000 public sector job cuts, the pay freezes and pension cuts for public sector workers that stalled the recovery to give us the new “Osborne recession” and massive unemployment.

The Tory Party is the political wing of the rich and the elite- the 1%. The 99% need to stand up to them. The UK Government must collect the £40 billion of taxes evaded each year salted away in off shore tax havens. This, rather than borrowing, should to be used to pay for investment in jobs and restart growth. The elite won't like it but it is a real alternative.”

---

Press releases, papers and documents published on this page are the intellectual property of an organisation unrelated to Central Lobby. We promote their parliamentary and political campaigning activities as they are subscribers to the Central Lobby service.

As such, Central Lobby does not edit, endorse, or attempt to balance the opinions expressed on this page. The content of press releases and other such types of content are the responsibility of the originating organisation.