Some people have more money than sense. Figures released yesterday by the Electoral Commission showed that Sir Paul Getty, the Americanborn philanthropist, gave the Conservative Party 5 million pounds during the runup to this year's general election in Britain and Stuart Wheeler, the chairman of the spreadbetting firm IG Index, gave 2.45 million pounds. In all, the Conservatives succeeeded in persuading donors to part with more than 12 million pounds in the three months before the election while Labour could raise only just over 5 million pounds and the Liberal Democrats had to be satisfied with less than one million. It takes some understanding that even very rich people would have wanted to put their money behind William Hague's forlorn campaign. John Major, a former banker, showed appropriate caution by sending a cheque for a paltry 2'000 pounds. Not everyone put his money where his mouth was; the Yorkshire millionaire Paul Sykes, who said he would give the UK Independence Partyú8 million pounds, actually forked out 13'000 pounds!
Not all those who contributed to Labour's coffers will be pleased with their investment.
As usual trade union contributions were important but whether their members will think the money well spent on a party now dedicated to privatising the public services must be open to question. Labour says that unions contribute 30 per cent of its income with the balance coming from party members and a few rich benefactors. This is the first time that funding sources for fighting an election have been made known in this way and it augurs well for greater transparency in the future.
Paying for election
09/08/2001 00:00
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