Why the Tories Are Running Out of Money

this video was brought to you by brilliant, as you may already know, the conservative party's 2024 general election campaign has practically fallen off a cliff, they have faced enough political challenges, from the D-Day blunder to Nigel Farage's return to a series. of election betting scandals by Tori staff, but are now also seeing their donations evaporate according to new data released last Friday by the Electoral Commission in the second week of the campaign. Labor received 15 times the amount of large donations than the Conservatives and the Liberal Democrats and Reform UK have also raised more

money

than the Conservatives, so in this video we will look at campaign donation data, why the Conservatives are losing

money

and what might happen next before you start, if you haven't already.

Consider subscribing and ringing the bell to stay informed and receive notifications when we post new videos, so let's start with the numbers. On Friday, the UK electoral commission, the independent body responsible for regulating electoral and party finances, published its latest data on donations made to political organisations. The games during the second week of the campaign, the results were quite amazing. The Labor Party received nearly £4.4 million, a share of more than 75% of total donations from all parties. The next largest proportion, 133%, went to reform the UK, which received approximately £750,000 5,00,000 of which came from a company run by party chairman Richard Ty, in third place were the Liberal Democrats who they raised 335,000 a 6% share and in fourth place were the Conservatives who raised less than £300,000 only 5% of the total donations now while this is just a we will have a snapshot and will have to wait for the total figures after the end of the Bell;

Still, when compared to historical data, these statistics look even worse in the first two weeks of the 2024 campaign, the Conservatives raised £889k per year. only 14% of the 8.6 million they raised in the same period in 2019, in addition, the total participation of donations in 2019 was 63%, while workers were left behind with only a participation of 17.6% , so what went wrong for the Conservative party and why are they apparently losing money? Well, a bit more context to point out before we get into this is that last year the Conservatives received £47.4 million in donations, considerably more than Labour's £21.7 million, which a senior Conservative official says means That Labor is actually catching up, however, so far.

By 2024, Labor has secured 15.5 million in funding from individuals, businesses, unions and others, surpassing the 9.9 million given to the Conservatives. Furthermore, the statistics from the first weeks of the campaign clearly paint a picture of a Conservative party struggling for funding, so why is this happening? Well, the first thing to say is that the Conservatives have historically tended to rely on companies and individuals for donations, while workers generally received larger donations from unions, which accounted for 93% of Labor donations in 2019; However, this year there have been a series of discharges. Entrepreneurs and companies are abandoning the Conservatives due to their poor polls and some are even moving to the labor sector.

This is because, according to almost every major poll, the Conservatives are on track for a colossal defeat in the general election and donors are reluctant to support a campaign they see as a bad investment, for example, in early June , a trio of anonymous Conservative donors, all wealthy businessmen who had donated at least £250,000 each to the party in the past, decided to organize their own private poll, which turned out to show that the labor movement was still on course for a landslide at the Tony Blair style, then everyone decided not to give money to Sun's campaign. Tor Ally told the Financial Times that many owners were confused because the campaign does not address the fundamental issues about growing the economy and the Brexit dividend and that they simply did not want to be associated with Sunak's faltering campaign, as for those who move to the labor movement There is also an obvious logic here: donors are more incentivized to support the party that will be in government so that they can exert more influence over political issues, especially those that affect business, for example, John Coldwell, the Founder of phones for you, he was one of the biggest donors to Boris Johnson's campaign in 2019, but has now abandoned the Conservatives for Labor and become increasingly critical of what he called the Conservatives' failures in their midst. he cites rishi's mismanagement of the economy during boris's lowering of ethical standards and the allegation that the Tory crony improperly benefited over covid PPE and then the Liz trust debacle.

He also called Sunak an absolute failure and said that in the Labor Manifesto economic growth was front and center and that he will do everything he can to influence them in government, another issue is that while some loyal Tories are choosing to not donating or donating to workers, others have actually switched their allegiance to rival right-wing parties with which they feel more ideologically aligned. Billionaire businessman Jeremy, who duped a former Tory donor, caused controversy earlier this month when he announced he would donate £5,000 to Tor MPS, which has agreed to back four pledges from the populist right-wing recovery movement launched by controversial activist Lawrence Fox , who deceived a former conservative donor.

Now the roles of the Bank, as well as the Reform Party, these promises were letting the European Court of Human Rights repeal the Human Rights Act which prohibits all forms of gender reassignment for children and reform the Equality Act to eliminate discrimination based on sex and race despite the president of the Conservative Party. warning Tor MPS not to accept the cash, four of them went ahead anyway because they were too low on funds, so what all this is likely to mean for the Conservatives this year marks a significant departure from the trending scene in 2019 when A group of 71 so-called private super donors gave 21.5 million to the Conservative party, making it the largest beneficiary of individual donors.

In fact, the share of party donations from ultra-wealthy donors that disproportionately benefit conservatives has increased over the decades and accounts for 60% of all donations. in 2019, it increased from 50% from 2010 to 2019 and from 40% in the mid-2000s, so this year it appears in the tables of work earned significantly more from individual donors than from the Conservatives, while this could help to level the historical financial imbalance between the two parties. which some analysts thought could persist into the 2024 election, it is too early to say that the resource gap between Labor and the Conservatives is closing, this is because despite some wealthy Conservative donors switching their allegiance to current campaign, others have only paused their funding and are waiting to see what happens to the Conservatives after the election, for example, anonymous Conservative Don's group, as we mentioned above, have said they would consider backing certain Conservative MPs, including pretty Patel Robert Jenrich and Suella Bravman, if they were to enter a party leadership contest after a general election defeat, so we will have to keep an eye on what happens after the results and whether a Labor supermajority could ward off even more donors to the bad streak that the Tor is going through.

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