Keir Starmer's electoral war chest received a record boost this year with over £6million in donations from wealthy individuals and companies, according to new data.
The figure - covering April to June 2023 - represents one of Labour's most lucrative quarters in the party's history, according to Electoral Commission data published on Thursday. Including money from public funds and union donations in the same period, the party registered income of over £10.4million in the same period.
It comes as Labour continues to enjoy a double-digit lead over Rishi Sunak's Tories in the national polls with a general election on the horizon next year. Of the private donations, a staggering £3million was donated by Lord Sainsbury, the former chairman of the supermarket chain Sainsburys, who endorsed Mr Starmer earlier this year.
Business tycoon Gary Lubner, the former Autoglass boss, also handed the party over £2.2million while ex-Labour MP Fiona MacTaggart, donated £250,000.
The total provided to the party from companies and private donors between April and June - around £6.5million - exceeds the amount raised in the whole of 2022. The party's coffers were also boosted by donations worth £891,901 from unions, including GMB, which provided the party with a £290,000 cash boost in June.
A Labour spokeswoman said: "Thanks to Keir Starmer's leadership, the Labour Party saw significant financial growth throughout 2022, and our finances have gone from strength to strength this year as we set out our five missions to transform Britain. "The Labour Party is a changed party that is serious about getting into government and building a better Britain."
The Tories also received donations just short of £10million, including a huge £5million sum from healthcare entrepreneur Frank Hester, the chief executive of Phoenix Partnership. Another £1million was donated by billionaire hedge fund manager Alan Howard.
In total political parties in the UK registered a staggering £24,438,482 in donations and public fundings between April and June - almost double the same period last year.
Louise Edwards, the Electoral Commission’s Director of Regulation and Digital Transformation, said: "We know that voters are interested in where political parties get their money from, and this publication is an important part of delivering this transparency for voters.
“However, we’ve seen for some time that public confidence in the transparency of party and campaigner finance is declining. We continue to recommend to the UK Government that it introduces laws to help protect parties from those who seek to evade the law and give voters more confidence in the process.”
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