Labor Party receives record donations of £6.4m in just three months

Labor says its finances are 'getting stronger and stronger'; under the leadership of Sir Keir Starmer Photo: Peter Byrne/PA

The Labor Party has earned a record £6.4 million in private donations in just three months as business leaders fill its coffers ahead of the next election.

Official figures show the party earned more from individual donors between April and June this year than it did in all of 2022.

They come after Sir Keir Starmer launched a corporate charm offensive dubbed » smoked salmon». and offensive scrambled eggs.”

But despite the huge rise in income, Labor Party donations still outpace the Tories, who received £2.4 million more in the last quarter.

£8 million from the private sector. philanthropists in 2023

The Left Party has already raised around £8m from private donors this year as it looks to bolster its coffers ahead of the next election.

Its bank balance has been boosted by contributions from Baron Sainsbury of Turville, the former chairman of the supermarket chain.

A long-time donor to the Labor Party, he withdrew his support while Jeremy Corbyn was leader but has now returned and given £5 million over the past two years.

He donated £3 million in the last quarter alone, helping the party record receipts from private donors of £6.4 million over the three-month period.

The previous largest amount recorded was £4.6 million between July and September 2008, when Gordon Brown was Prime Minister. .

A Labor Party spokesman said: “Thanks to Keir Starmer's leadership, the Labor Party has achieved significant financial growth throughout 2022 and our finances have gone from strength to strength this year as we set five targets to transform the UK.

“The Labor Party is a changed party that is serious about getting into government and building a better Britain.”

Sir Keir is working to reduce his party's dependence on funding from trade unions, with whom he speaks frequently. disagreements over key policy issues.

Data released by the Electoral Commission on Thursday shows Labor received £7.5 million in total donations in the second quarter of this year.

But they are still behind last year's figure. The Tories earned £9.9 million, while Rishi Sunak received a huge campaign contribution from a private donor.

Frank Hester, founder and chief executive of health technology company The Phoenix Partnership, gave £5 million sterling to the Conservatives.

In an article for The Telegraph, he said he was inspired to donate the money by the Prime Minister's plans to use technology in the NHS.

His donation was one of the largest donations Tory for 20 years and matched the £5 million recently donated by Egyptian-born billionaire Mohamed Mansour.