One of Labour's biggest financial donors, rag trade tycoon turned restaurateur Richard Caring, has switched allegiance. Earlier this week the millionaire donated £70,000 to the Conservative party in the form of an auction gift.Full story HERE.
One of Britian's richest men, Richard Caring is worth an estimated £450m. He made his fortune supplying clothes to high street shops, and now his portfolio includes well-known London haunts such as The Ivy, Le Caprice, Soho House and Annabel's. During the 2005 general election he lent Labour £2m to help pay for their campaign, a loan which is still outstanding.
However, he is understood to have had a series of private meetings with David Cameron, and to be poised to back the Tories for the next general election - a public, as well as a financially punitive snub for Gordon Brown's government.
This week he donated a gift of an exclusive evening out at one of his venues as a prize to be auctioned at the Conservative's Black and White Ball. It sold for £70,000 which will be declared as a donation when the register of political party gifts is published in the spring.
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