Show me the money: major donors in the race to No 10

Those funding party election campaigns include supermarket heirs, entrepreneurs... and the occasional arms dealer’s wife

- ALICJA HAGOPIAN & JABED AHMED

Wealthy donors aiming to woo Sir Keir Starmer’s party ahead of its likely win in next month’s election have helped Labour overtake the Tory party in receiving political donations, latest figures show.

Labour has landed £15.5m in funding so far this year from individuals, companies, unions and others, exceeding the £9.9m handed to the Conservatives.

While the Tories have historically found more favour with companies and individuals, Labour typically receives substantially higher donations from trade unions.

They contributed 26 per cent of the Labour Party’s fundraising since the last election in 2019, at £25.3m. Overall, Tory donations are still well ahead at £111.9m, topping Labour’s figure of £98.7m.

However, The Independent has found that individual donors have been dwindling in their support of the Tories, and flocking to Labour – with some even switching sides.

While major donors such as controversial businessman Frank Hester have stayed loyal to the Tories (to the tune of £15m), others like Crystal Palace investor Jeremy Hosking have turned to back competing parties, including Reclaim and Reform.

Meanwhile, the two Lord Sainsburys – cousins and heirs to the fortune – have planted their cash in opposite camps.

Figures out last week showed Labour received £4.4m between 6-12 June while the Conservatives received just £292,500. So, who are the big-name donors staking their cash on the major parties?

Frank Hester

The founder, owner and CEO of software company The Phoenix Partnership (TPP) donated £10m to the Tories last year, according to Electoral Commission records. He individually donated £5m to Mr Sunak’s party in May and gave another £5m via his IT company in November.