But according to a Labour donor who used to raise funds for the party, the adage "when power shifts, so too does the money" rings true. "Fundraising is a reflection of a very few committed people who are rich and then there is a bigger group of people who become very much more amenable to fundraising when it looks like you might win," he said.
"Whether it's because they want to back a winner or because the party has got the public mood is always difficult to say." Donations of more than £11,180 - a level recently increased from £7,500 - must be reported to and published by the Electoral Commission and the turnaround in Labour's fortunes with large financial backers could not be more stark. Over the decade until Keir Starmer became leader, Labour had lost more than 95% of its big private donors, according to party sources.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Dewsbury-Hall delivers as Gent hit by goal rush
With every result, Enzo Maresca is making Chelsea believe again.
'My home record is bloody good so it's hard to match that'
Chris Woakes is ready for the challenge of leading England's Test attack in Pakistan and justifying Brendon McCullum's faith in his ability overseas
Brewer to reduce emissions by making beer using heat pump
An independent brewery in West Sussex is poised to become the first in Britain to make its beer using an ultra-high-temperature heat pump in place of an oil boiler.
Carmakers complain of pressure to hit EV targets despite record sales in September
UK electric car sales hit a record high in September, even as bosses from major carmakers told the chancellor, Rachel Reeves, that government targets were putting too much pressure on the industry.
Bank of England monitoring crisis in the Middle East 'extremely closely'
The Bank of England is monitoring the Middle East crisis amid fears that a worsening conflict between Iran and Israel will make it impossible to stabilise oil prices and leave the global economy vulnerable to a 1970s-style energy shock.
'Speak the truth' Russia's opposition is rocked by claims over attack on Navalny ally
When Leonid Volkov, a longtime associate of the late Russian opposition leader Alexei Navalny, was brutally attacked with a hammer outside his home in Lithuania in March, it initially seemed yet another case of the Kremlin hunting down its enemies abroad.
Deaths from Hurricane Helene pass 200 a week after storm
A week after Hurricane Helene made landfall in the US, search-and-rescue teams are continuing to search for missing people in parts of the south-east that were devastated by the storm.
Book claims Trump axed hardline migrant policy after Melania intervened
Melania Trump describes in her new memoir how she made her husband, then president Donald Trump, drop a signature hardline immigration policy under which migrant children were separated from their parents, stoking domestic and international uproar.
Centrepoint says councils illegally turn away homeless young people
Hundreds of homeless young people, including dozens who are pregnant or have children, are being illegally turned away by councils when they ask for help.
White women eligible to donate stem cells on NHS for first time
Millions of women are now eligible to donate stem cells on the NHS for the first time amid rising demand for life-saving transplants and a drive to reduce reliance on expensive imports.
