Conservative commentator: ‘Cosying up to big donors’ is not a ‘good look’: many a true word spoken in jest

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In the Times today, Tim Montgomerie,  co-founder of the Centre for Social Justice and creator of the Conservative Home website warns: “Tories must beware cosying up to big donors . . . the dependence of the party on chief executive chequebooks is bad politics and makes it vulnerable to populist entryism”

He cites the persistence of Jeremy Corbyn’s support despite the media onslaught, commenting that voters who are desperate for a new economic settlement seem (bewilderingly) willing to forgive or at least overlook (alleged) weaknesses that would have been electorally fatal until recently.

He points out the surge in revenue from Labour’s half a million or so members, which means that the party is getting almost as much money from individuals as it receives from the unions and continues: “The Tories enjoy no such diverse spread of funding”.

While “Corbyn’s coffers” were filled with £16 million of funds from individual supporters, the 124,000 Tory members contributed less than £1 million to their party’s treasury. Over £7 million came from ‘high-net-worth donors’ and big gifts came from dining clubs, at which rich individuals are able to sit down with Mrs May and other cabinet ministers. Montgomerie continues:

“Chasing high rollers has at times led the party to become entangled with former associates of Vladimir Putin. That is not a good look”.

Mrs May’s successor and the nation’s prime minister will be chosen by party members but Montgomerie sees the danger of ‘entryism’. Arron Banks, the businessman who financed Nigel Farage’s Brexit campaign has launched a drive to recruit 50,000 Ukip-inclined supporters to join the Tories.

The support for capitalism is not what it was and deservedly so

Montgomerie advocates building a broad and diverse membership which understands that things are different from the 1980s, when Margaret Thatcher reaped great political rewards from being close to the nation’s wealth-creators:

  • The banks have paid an estimated £71 billion in fines, legal fees and compensation since the 2008 crash.
  • Inflated house prices owe much to the power of a few major builders to restrict the supply of new homes.
  • The service of some privatised railway companies is poor.
  • The pay awards enjoyed by many leading chief executives are unjustifiable.

He adds that the Tory mission today should be the protection of the “little guy” from any concentration of power, whether in commerce, media or the state

He comments “There are some signs that the government gets this”; the apprenticeship levy for example, which is attempting to address “the decades-long failure of British industry to invest in the skills of their workforces”.

Montgomerie concludes that British politics is not corrupt but distorted

By accepting funding and spending so much time with donors from the City and with property developers, the Tories are in danger of being held back from building an agenda that is less southern and more focused on consumer empowerment than producer privilege.

He and his ilk are incapable of understanding the persistence of Jeremy Corbyn’s support despite the media onslaught. Those voters who are ‘desperate for a new economic settlement’ also recognise the character of the man, whose policies are based on justice, not perceived electoral advantage.

The last word is given to Andrew Scattergood (FBU) who sees more clearly than Montomerie: “Jeremy Corbyn has, since first elected as leader, established himself as by far Labour’s best leader, perhaps since Keir Hardie, representing the aims and values of the vast majority of the party membership”.

 

 

 

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Posted on August 27, 2018, in Banking and finance, broken Britain, Corporate political nexus, Democracy undermined, Finance, Government, Party funding, uncategorized, Vested interests and tagged , , , , , . Bookmark the permalink. Leave a comment.

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