British Chancellor of the Exchequer Rishi Sunak will meet with top Conservative Party donors on Monday evening as he seeks to garner financial support for the surprise general election campaign he triggered last week.
According to sources, the prime minister will have dinner with a small group of long-standing and recent donors as the Conservative Party aims to raise millions of pounds in contributions to fund their campaign for retaining power. This comes after City billionaire and Tory donor Lord Spencer announced a contribution of £250,000 to the Conservative campaign over the weekend. However, a leaked party memo reported by The Times on Monday revealed that the party is facing difficulties in raising funds.
In the midst of this, Labour is preparing to unveil a list of senior business figures who have endorsed the party ahead of the July 4th election. A draft letter, which has been circulated to private sector bosses and reported by Sky News, accuses the Tories of creating an economy “beset by instability, stagnation, and a lack of long-term focus.”
Although Labour has refused to comment on the identities of those who have signed the letter, there is speculation that Sir Jim Ratcliffe, the billionaire founder of Ineos and joint-owner of Manchester United Football Club, may have been invited to do so. However, a Labour official has denied Sir Jim’s involvement.
The draft letter, which is aimed at supporting Labour leader Sir Keir Starmer’s efforts to reposition the party as the natural choice for business, highlights the potential for the UK to be a strong global economy, but also criticizes the lack of political stability and consistent economic strategy that have held it back. The letter states that Labour has shown a willingness to work with business to achieve the UK’s full economic potential, and urges the country to give them the chance to make a change.
Meanwhile, the Tories have reportedly contacted business leaders since the election was called, asking them to participate in media opportunities, provide quotes in support of manifesto pledges, and host events and visits for cabinet ministers. It is unclear if the Tories will seek business signatures for a public letter similar to the one being prepared by Labour.
A spokesperson for the Conservative Party declined to comment on the dinner with the prime minister, or to disclose the names of those in attendance.
