CCHQ announces names of individuals who lent £16m

CCHQ has just released the names of individuals who have lent the Tories £16m.  A pdf of the full Francis Maude statement can be read here.

Here are four highlights:

• "Like all the main political parties, the Conservative Party has entered into loan arrangements to fund the considerable cost of campaigning. In the run up to and during the last General Election, the Party’s Finance Committee, Board and Party Leader were kept informed of the Party’s financial position.  The existence and extent of the loans has always been declared in our annual report and accounts."
• "We have been contacting lenders to seek their permission for us to make their names public. Today we are publishing a complete list of the individuals and organisations with whom we have loan arrangements, together with the amounts.  We are also writing to the Electoral Commission to confirm that we will share with them any relevant information or material.  In the last few weeks a number of lenders have turned their loans into donations, and their names will appear in the relevant returns to the Electoral Commission. We have also repaid around £5 million to lenders who did not wish their names to be disclosed."
• "Since David Cameron became Leader of the Party, we have seen a large increase in donations and more than 20,000 people have joined the Party.  When we report our first quarter’s donations to the Electoral Commission by the end of April we shall be reporting a total of nearly £8 million."
• The top four lenders: Lord Ashcroft, Deputy Chairman & former Treasurer (£3.6m); Johan Eliasch, Deputy Treasurer (£2.6m); Michael Hintze (£2.5m); and Lord Laidlaw (£3.5m).

BBC News 24 is reporting that (within the repaid loans) there were a small number of foreign lenders.  Although perfectly legal - as the loans were made on commercial terms - this will be politically sensitive and will frustrate Tory attempts to draw a line under the affair.

16.42 update: In an interview on '24' Francis Maude has just been repeatedly pressed on these foreign loans and whether they were on truly commercial terms.  Mr Maude effectively conceded that the party had received some foreign loans but that the lawyers Clifford Chance had inspected the contracts and were satisfied that they met Electoral Commission rules.  FM paid tribute to the people who had financially supported the Conservative Party - in an environment where, he said, Labour were "vindictive" to those who supported Tory causes.  He insisted that the Tories had been more transparent than Labour and were the only party to have proposed comprehensive reforms of political funding.  He noted that the Labour party had received £12m from the unions and that the Labour government had just spent £3m of taxpayers' money on a union modernisation project.

Comments

[James Maskell]

One thing Ive wondered about is how the Conservatives plan to pay back all this money. Its a loan so ultimately the Party's gonna pay it back, right? Wheres the money coming from to pay it off?

[James Maskell]

Sorry, pardon my rudeness, its nice to see the leadership finally coming out with all of this information. Its just a pity it took the threat of court action by the Electoral Commission to get to this stage...

[TimC]

"In an interview on '24' Francis Maude has just been repeatedly pressed on these foreign loans and whether they were on truly commercial terms."

Blimey, I knew that things were getting heated - but I didn't expect it to become a plot for 24. What did Jack Bauer do?

[Rob Largan]

Bauer is the foreign lender.

[Daniel Vince-Archer]

I've noticed that a Labour government minister is named as one of our donors - is this regular?

[James Maskell]

Which minister? If true, I think its safe to say someone is out of a job...

[James Maskell]

I dont see any Government ministers on the donations list.

[kingbongo]

I think Daniel might be getting his Sainsbury's mixed up

the Labur Lord Sainsbury has just revealed that he lent £2 million to Labour but didn't declare it as required to his Permanent Secretary as he got confused with £2 million he'd donated a month before.

"Forgetting" is of course a perfect defence against breaches of the Ministerial code so no problem there.

I thought FM did well on Channel 4 News and did point out that Labour's trumpeting of their own transparency excludes the fact that nobody has thought to ask them if any loans were repaid prior to their list of donors being released.

Hopefully after a hysterical 24 hours of non-stories journalists might get round to asking the Labour cabal of secret fund raisers a few questions. I won't hold my breath though

[Daniel Vince-Archer]

how many Lord Sainsburys are there?

[James Maskell]

Lord John Sainsbury of Preston Candover KG is a definite Tory. It may well be him.

[kingbongo]

there seem to be loads but I think at the moment it's three but one sits in the Lords as a Bishop then one each for the tories and NuLab

[Daniel Vince-Archer]

in which case, I withdraw my earlier comment about the Labour minister

[James Maskell]

Pity, that would have been a big story and a enormous scoop for Conservative Home!

[Henry Cook]

Can I just say well done Francis Maude. He's got a lot of stick in the past, not least from people posting here, but I think he performed admirably today. His responses on News 24 (which can be seen on the BBC website) were robust, clear and put some much needed perspective on the Tory situation. Thank you Francis.

[James Maskell]

Not really. There are unanswered questions about foreign donations and loans. What are the commercial terms? He ignored the point that he was being asked about the Conservative Party not about Labour. Who were the loaners repaid their 5 million? Complete clarity in all financial transactions is needed not quick pay offs of those who dont want to come out. Its bs that the excuse stands that certain people are fearing what might happen if their names come out. This is the Tory Party for Gods sake. They seriously thought that this wouldnt be investigated eventually?

Cameron came across as arrogant in the BBC report saying he was doing it in his time. Sorry David, but when the Electoral Commission is threatening legal action, you do not take your time...

Im not happy at all with he way this has been dealt with. They have not killed the story off...they have left bits unanswered.

[Annabel Herriott]

Well, Francis Maude did say it was complicated!!!

[Ted]

The News Quiz last night showed the problem - references to police investigating TORY corruption until Sandy Totsvig pointed out it was LABOUR; that's the problem with whatever Maude said, the story is more comfortable for many journalists when its about conservative secrecy rather than Labour corruption.

[Editor]

Just heard Peter Oborne interview Michael Howard on R4's Week at Westminster. Not one question to MH about the loans he incurred on behalf of the Tory party. I've emailed Peter O and asked why.

[Greg Lance-Watkins]

Hi,

why7 doesn't Francis Fraud just get one loan from the Tril. Lats. and use it to help Vapid Cameroon totally destroy the principles of the Tory Party & Unionism! Then seek to replace New Labour with New Labour Lite Tory.

Then as intended by The Tri.Lats. and such globalist arms vendors as John Major's employers The Carlisle Group Britain can be finally subsumed and destroyed as just a region of the unarguably corrupt, clearly undemocratic and staggeringly expensive super state of the EUropean soviet as it expands to its Common Purpose from Vladivostok/Kamchatka to The Atlantic putting one brick of the Tri.Lateral Commission in place!

I'm sure if John Major is worth £1,000,000 a year to them £40 0r £140 Million would be a mere bagattelle to buy Britain.

It was of course a Tory politician of some repute that out of fashion who said 'every man has his price' as I recall.

Regards,
Greg L-W.

[mira]

thanks you

[Louise]

Call yourself Tories? If you are so desperate to crucify as fraudsters the people who actually were able to do something useful with their lives rather than mess about in opposition while Gordon does most of the work, then I might remind you all of the old saying:

TAKES ONE TO KNOW ONE.

Piss off back to Notting Hill, take Wet Dave with you and give us our party back.