The Tory leader has put his chief fundraiser in charge of sacked MP Howard Flight's Conservative City Circle.

Michael Howard has appointed Jonathon Marland with the job of wooing the Square Mile for the Opposition, after Flight was forced to stand down.

"The message I get from the City is that they are delighted with our approach to much less regulation, which they are finding deeply frustratnig," the insurance millionaire tells the FT.