Labour raised £10m more than Tories in three months before election
A hedge fund gave Labour a £4m boost in May, while the Tories received another £5m from controversial businessman Frank Hester.
A £4 million donation from a hedge fund helped Labour raise £10 million more than the Conservatives in the second quarter of the year, new figures have revealed.
Data released by the Electoral Commission on Thursday showed Labour received £26.1 million in donations between April and June while the Conservatives received £16.1 million.
In total, political parties raised £51.6 million over the three months, more than double the amount raised over the same period in 2023, although the Electoral Commission’s Jackie Killeen said this was “not surprising” given it covered the election campaign.
Labour’s biggest donation came from hedge fund Quadrature Capital, which gave the party £4 million on May 28, just before the reporting period for the election began.
