GMB says 60% of Tory funding comes from finance and other city activities


The Conservatives have received 60% of their recent donations from big business, according to figures published by the Electoral Commission.

Total donations to Tories in the third quarter were £2,891,436, of which GMB analysis shows £1,684,708 came from companies and individuals linked to finance, hedge funds, private equity, property and other city activities.

Earlier this year a report found that of the 498 Tory MPs and peers, 134 have been or are employed in the financial sector, including 70 of the party’s 305 MPs. Among the 193 Conservative peers, more than a third work or have worked in finance or banking.

GMB general secretary Paul Kenny said: “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.”

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