Sep 28, 2024, 11:29 AM
Sep 28, 2024, 11:29 AM

Tories face financial crisis as donors shift to Farage and Starmer

Provocative
Highlights
  • The Conservative Party is struggling financially, with many donors and businesses shifting support to Labour and Reform UK.
  • In an attempt to increase attendance at the conference, the party is giving away tickets to young activists and has reduced the financial requirements for VIP access.
  • These financial issues and the ongoing leadership contest have raised concerns about the party's future and its ability to respond to key challenges.
Story

The Conservative Party is facing significant financial challenges as it prepares for its annual conference in Birmingham. Concerns have been raised about dwindling support from donors and businesses, with many shifting their allegiance to Labour and Nigel Farage's Reform UK. This shift has been exacerbated by the party's poor performance in the recent general election and an extended leadership contest that has left the party feeling irrelevant. Insiders report that major donors, including property magnate Nick Candy, have either switched support or ceased donations altogether. In an effort to boost attendance, the party is reportedly giving away tickets to young activists and has lowered the financial threshold for VIP access. Despite claims of increased interest, the party's financial struggles are evident, with candidates for leadership required to contribute £50,000 to be considered for the final selection. The absence of a new leader during this critical time has raised concerns among party members about their ability to respond effectively to upcoming challenges, including the Budget announcement on November 2. The situation highlights a broader crisis within the party as it grapples with its identity and future direction amidst a changing political landscape.

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