Labour’s efforts to win the support of business leaders have been successful, with high-profile backers including South African-born windscreen tycoon Gary Lubner, former Mirror Group Newspapers and Lloyds Bank chairman Sir Victor Blank, and recruitment mogul Peter Hearn. Despite the threat of significant tax increases, these donors have been charmed by the brand of socialism espoused by Labour leader Sir Keir Starmer. However, while Labour has made gains, the party still lags behind the Tories in donations. Philanthropist Lord Waheed Alli is spearheading Labour’s fundraising efforts, having donated £1.2 million in the 2022-23 period. Labour also counts retail heiress Fran Perrin, modern-day financier Anthony Watson, green energy entrepreneur Dale Vince, and hedge fund billionaire John Armitage among its supporters.
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