The Independent today declares that Ashcroft's war-chest targets marginals. Closer examination of the story reveals that the vast bulk of the money spent in target seats is actually raised locally:
"The Tories have spent £6m over two years in the parliamentary seats that hold the key to general election victory... A drive for votes masterminded, and largely funded, by the Conservative deputy chairman, Lord Ashcroft, has seen party headquarters pump more than £1.1m into the coffers of constituency parties in Britain's most marginal seats. Tory activists raised another £5m locally to build up huge cash reserves in seats they need to win with a small swing."
CCHQ has given target seats £1,145,484 over the two years while local associations have raised £4,983,460.
The Independent therefore reveals that local Associations are financing 81% of their campaigns. That's not the impression given by the newspaper. The Independent implies that the money from CCHQ all comes from Ashcroft but there's no evidence of that. I suspect it comes from a variety of donors.
The Independent set out to prove one thing and they've proven another. I suspect that not more than one quarter of the money from CCHQ (5% of our total campaign spend in marginal seats) is funded by Lord Ashcroft. 5% is a significant contribution but the party is not dependent on his generosity in the way that the media likes to suggest.
I wonder when The Independent will have a front page splash looking at Labour candidates' dependence on union money? I won't hold my breath.
Tim Montgomerie
> In the interests of full disclosure, Lord Ashcroft owns a majority stake in ConservativeHome.
