A wealthy benefactor who supported Boris Johnson in the previous election announced his endorsement for the Labour Party in the upcoming election, expressing his disappointment with the track record of the Conservatives.
John Caudwell, the founder of Phones4U, had donated £500,000 to the Conservatives in 2019 to prevent what he referred to as “the calamity of having Jeremy Corbyn as the Prime Minister”.
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However, he cited the “failures” of the three prime ministers during their tenure since then, coupled with the “transformation” of Labour under the leadership of Sir Keir Starmer as the reasons behind his decision to shift his allegiance for the first time ever.
Mr Caudwell stated: “For quite some time now, I have been increasingly disheartened by the performance of the party that I have actively supported for over five decades: the Conservatives.
“Just five years ago, I contributed half a million to the Conservatives to prevent the disaster that a Jeremy Corbyn leadership would bring.”
“However, I have become more critical of the Conservative shortcomings since then, especially regarding Rishi’s handling of the economy during the pandemic, Boris’ ethical standards decline, and the controversies surrounding Tory associates benefiting improperly from Covid PPE – not forgetting the Liz Truss debacle.”
Mr Caudwell remarked that in the past couple of years, he has been “impressed by how Keir Starmer has revitalized the Labour Party and veered it away from the brink of Corbynism”.
“As I have always emphasized, the government needs to adopt a more business-oriented approach to boost GDP for funding public services that benefit the entire society, without escalating taxes.”
Projections indicate a strong mandate for Starmer. Pic: PA
He expressed his pleasure in observing economic development taking a prominent position in Labour’s agenda, with a focus on utilizing clean energy to enhance Britain’s standing as a sustainable energy leader.
He further stated: “Hence, I am publicly announcing my support for Labour, and I urge everyone to follow suit.
“We need a robust Labour Government capable of making bold decisions, and I assure you that I will endeavor to exert my influence wherever possible to help restore greatness in Britain.”
This development serves as a significant boost for Sir Keir, as the latest election poll suggests that he is on track to secure a 256-seat majority – the largest since any post-war government.
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If these projections hold true, it would signify a significant drop for the Tories in terms of parliamentary seats – a remarkable turnaround for the party that secured a commanding 80-seat majority five years earlier.
The announcement follows a recent meeting between Mr Caudwell and Sir Keir.
Sir Keir remarked: “I am thrilled that John, an individual with a distinguished history of success in business, has extended his support to the reformed Labour Party under my leadership.
“The message is crystal clear: the business community endorses the progressive changes and economic stability promised by Labour, while shunning the prospect of enduring further chaos and decline under the Tories.”
Sir Keir added: “John was not only a Conservative voter but a substantial donor to the Conservative Party in 2019 – hence, this decision would not have been made lightly. Nevertheless, it is evident that he aligns with my economic growth strategy outlined in the Labour manifesto.
“I am committed to incessantly campaigning until 4th July to convince other former Tory supporters that a shift to Labour signifies the best future for Britain.”
