Overjoyed Tories are celebrating after bumper donation figures showed they raised more cash in the final quarter of 2024 than Labour, the Liberal Democrats and Reform combined. Electoral Commission figures show the Conservatives raked in nearly £2million in the final three months of the year, providing a much-needed morale boost.
Despite their General Election clobbering, the Conservatives were handed £1.92million and got £1.5million in so-called “short money” – taxpayer cash handed to opposition parties based on the number of seats they have in Parliament. Labour received just over £1million in the same period, with the Lib Dems achieving £685,727 in donations. Reform UK came up well short, with just £281,000 – much less than leader Nigel Farage earned from his third-party income from jobs such as GB News and Cameo.
The figures shine new light on the Conservatives’ fortunes after months of having to share the limelight with Nigel Farage.
Reacting to the data, a Tory source told the Express: “For all the media noise and commentary, Kemi is quietly getting on with overhauling CCHQ and rebuilding the party finances.
“Despite his constant boasting, Farage is clearly failing to bring in the funds – and it’s perhaps no wonder as his own MPs openly question his abilities, Reform’s leadership contest plays out in public and Farage seems to side with the dictator Vladimir Putin over the hero President Zelensky.
“They are not serious, and will always put self-interest over our national interest.”
Reform has spent the last few months courting donors in the hope of picking off dissatisfied Tories.
In January, Reform hosted a major fundraising dinner in Mayfair, with tickets selling for between £10,000 and £25,000.
Two attendees were former Tory donors, Bassim Haidar and Mohamed Amersi, who paid £50,000 for their tickets.
Reform sources suggested the one-off event brought in pledges of more than £1million, but they will not show up until the next set of Electoral Commission reporting data later this year.
Mr Haidar told The Guardian the fundraiser was “a valuable opportunity to learn more about the party’s mission, and I believe they have a good one to ‘make the UK great again’. It’s worth considering them as a strong alternative”.
Mr Amersi handed the Tories £500,000 between 2019 and 2021.
He described the energy in the room as “really electric”. “It does feel like momentum is behind Reform and the question is what happens to the strands of conservatism, Reform and the Conservative Party,” he said.
“Mr Farage was impressive as ever and I was particularly impressed by the young chairman, Zia Yusuf, who was dynamic and articulate. Nick Candy, of course, is also an amazing figure to have there. He is a doer.”
