Monday, 4 June 2012

Big business dominates Tory donor list

Following our earlier analysis of the Labour Party's income for the 2011/12 financial year, here is what we've found in the Conservatives' accounts.

First the loans and as you'd expect, absolutely nothing from the unions but there is money from foreign companies, including one based in a tax haven.

Lender TypeAmountPercent
Foreign Company£950,0007.4%
Tax Haven Company £250,0001.9%
Party Association£5,0000.0%

The tax haven company is Juniper Trading Equities which is based in the British Virgin Islands and loaned the Tories £250k.  The other foreign company is Medina Foundation which is based in the US and loaned them £950k.  Woodlands Schools, a group of private schools, loaned the Tories £21,609.

Party associations - unincorporated associations set up for the benefit of promoting and raising funds for the party - loaned the party a trifling £5,000 whilst individuals accounted for £264k of loans.  Banks and companies made up the bulk of the Tories' loans with £8.36m and £2.98m respectively, or 88.4% of loans.

Donor TypeAmountPercent
Party Association£1,292,168.7%

The Tories get much less of their donations from the taxpayer - 3.3% compared to 33.3% - than Labour but they do take more from lobbyists and businesses.  Much more from businesses but still nowhere near the amount of taxpayers money laundered through the unions to Labour.  Donations from party associations are interesting - almost £1.3m was raised by commercial ventures set up solely for the purposes of promoting and funding the Conservative Party.

The Arbuthnot Banking Group donated £84,300 through its bank and subsidiary, Flowidea and loaned the Tories a whopping £5m in 2009 which is still outstanding.  The loan attracts interest at 3% above base which  will be attracting something in the region of £25k per year in interest.  That buys a whole lot of influence for Chairman, Henry Angest who already has direct influence at Westminster through Arbuthnot Latham & Co which is an Accepting House and has a seat on a Treasury/Bank of England policy committee.

Bestway Cash & Carry has been very generous, donating £77,950 to the Tories in the 2011/12 financial year.  Chairman of Bestway, Sir Pervez Anwar, also owns the second largest bank in Pakistan whose UK operation is one of the biggest providers of Islamic banking in the UK.  Lord Ashcroft hasn't been quite as generous but still retains his top spot on the Tory donors list helped along by his trifling £36,500 in donations.

Scottish special interest lobbyists donated £267,900 - a disproportionately large percentage of the Scottish Conservative & Unionist Party's income and goes some way to explaining why Scottish interests are so disproportionately high on David Cameron's agenda.  Whilst only one tenth of the amount received by Labour, the Tories received a not inconsiderable half a million from the taxpayer which weighed in at 3.3% of their donations for the 2011/12 financial year.