Tory coffers take hard blows
Filed under: News
That 2010 figure does represent election war chest donations but the 2011 £23.7m figure is, proportionately, a bigger slump than Labour's 2011 income stream, which fell from £36.3m in 2010 to £31.3m last year.
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Tory panic?Lib Dem income has also taken blows with a 35.4% income drop, from £9.6m to £6.2m. UKIP saw 2011 income drop from £1.34m to £1.06m. In contrast, income for the Scottish National Party soared from £1.8m in 2010 to more than £5m in 2011, boosted by two one-off £1m donations. Plaid Cymru saw donations slither from £667,114 in 2010 to £624,987 in 2011.
"It seems even the prospect of kitchen suppers with David Cameron in the Downing Street flat can't stop the slump in Tory donations," said Labour MP Simon Danczuk.
"With donors now losing faith with David Cameron in the wake of the cash-for-access scandal and George Osborne's disastrous Budget, the news that donations have already halved since the General Election will be causing panic in Tory HQ."
Close tiesPolitical donations - some - remain tainted with allegations of political favours. For example, Sovereign Capital, established by two Tory donors, has for some time time controlled the Employment and Skills Group (ESG) which has bagged more than £70m of government contracts.
Last year it won, according to the Guardian, a £69m contract to manage the government's work programme - this replaces the previous welfare-to-work scheme - in Warwickshire and Staffordshire. Sovereign Capital partner John Nash has donated more than £180,000 to Conservative Party Funds. Nash is also an adviser to George Osborne on government spending.
Taxpayers, says Labour shadow secretary Liam Byrne, should "be extremely concerned to hear multi-million pound Work Programme contracts are being handed out to so many Tory donors when the Programme is getting so few people back to work."
"Trust in this government's ability to get anyone back to work is now hanging by a thread so ministers had better provide some pretty rapid reassurance that these deals are all above board and crucially ministers need to publish the secret data showing how well different firms are performing."