• Thursday, July 18, 2024

HEADLINE STORY

Conservatives struggle to raise funds: Report

In the first two weeks of election campaigning, the Tories could raise only £290,000 from private donors, while Labour was able to garner £4.4m

Rishi Sunak gestures as he speaks to employees during a visit to the DHL Gateway port facility at Stanford Le Hope on the Thames estuary east of London on April 29, 2024. (Photo by FRANK AUGSTEIN/POOL/AFP via Getty Images)

By: Shajil Kumar

With pollsters favouring Labour in the July 4 general elections, business donors are now turning their backs on the Conservative party as it struggles to raise money.

In the first two weeks of election campaigning, the Tories have raised less than £900,000, compared with the almost £9 million they brought in during the first two weeks of the 2019 campaign under Boris Johnson, The Guardian reports.

In contrast, Labour got a windfall of £5.3m during the same period.

The Tories could raise only £290,000 from private donors, while Labour could garner £4.4m.

In the first week of June, Conservatives received 10 donations, the largest was worth £50,000 from Bestway, owned by the Tory peer Zameer Choudrey.

Malik Karim, who runs a finance firm Fenchurch Advisory, figured among the top individual donors to the Conservative party (£12,500), as per the Electoral Commission website.

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