That is the conclusion of The Times this morning, which calculates that of the £52 million received into party coffers over the last three years, "a growing proportion" has come in the form of individual donations of £50,000.
According to the paper's analysis of Electoral Commission figures:
However, it would seem that there is still some way to go before it becomes viable to introduce a £50,000 cap on donations - which David Cameron aspires to introduce and about which I expressed my scepticism quite recently.
Whilst the number of people giving £50,000 donations has increased over the last three years, The Times also notes a recent pledge of £1 million from Stanley Fink and the fact that the amount of money channelled into the party through Lord Ashcroft's company, Bearwood, has also increased during the that time:
How broad will that growing donor base remain as the recession continues to bite?
Jonathan Isaby
Whenever party leaders come out with ideas about reforming the way donations are made and putting a limit on them one wonders if their real wish is to change the system to one which favours his party.
For heaven`s sake, people must be free to do what they like with their own money.
Posted by: Edward Huxley | May 01, 2009 at 09:39
The recession is going to hurt all the parties as they try to build up their financial reserves heading into an election. The Conservatives, thankfully, are likely to suffer the least.
Posted by: Letters From A Tory | May 01, 2009 at 09:42
I'm suprised we haven't had a comment from Resident Leftie along the lines of Ashcroft 'owning' the Conservative Party.
It is worrying that our donations are lower now than they were in 2006.Personally I have no emotional attachment to a £50,000 ceiling. What is far,far more important is transparency.
Posted by: Malcolm Dunn | May 01, 2009 at 10:32
One small grain of comfort regarding Brown's fiscal imprudence is the hope he has ruined Labour's own finances, just as he has those of the UK.
Posted by: libertarian2 | May 01, 2009 at 10:39
It is vital that we attract as wide a donor-base as possible. I have drawn up proposals to help us achieve this which are currently being passed to the head of digital at the party.
The big donations are helping, but we still need to get people involved by giving £1, £5, £10 to our campaign. It might not raise as much as one Ashcroft donation, but it alters the perception of us only having three major backers.
Widening the donor base also widens the volunteer base. If people are financially involved, they are more likely to get involved in other ways.
CCHQ's refusal to put PayPal on the website or to get moving with text donations is an unpardonable sin in the modern media world.
Posted by: Cleethorpes Rock | May 01, 2009 at 13:40
I believe strongly that we should have no minimum subscription rate for Members to join the Party. I think there could be a scale of charges thereafter, dependant on what sort of service individuals want in the way of newsletters etc. However once people have paid a sub of whatever size, you have pretty much got their vote; and more important, a broader base of volunteer efort in the constituencies. Those who subscribe a little might well be prepared to top up their contributions with work by delivering, canvassing and other important activities. We would be sensible in my view if we aimed to become a mass movement again
Posted by: john parkes | May 01, 2009 at 15:51
Capping donation limits is a stupid policy from Cameron, to be blunt. Not only would it harm us much more than Labour, but it also gives yet another measure of control to the government. People should be able to do whatever they want with their money!
Posted by: Thatcherite88 | May 01, 2009 at 17:15
CCHQ's refusal to put PayPal on the website or to get moving with text donations is an unpardonable sin in the modern media world.
Posted by: Cleethorpes Rock | May 01, 2009 at 13:40
Totally agree with you about this. I wouldn't hold your breath though that this will be resolved any time soon.
Posted by: abctory | May 02, 2009 at 16:02
Even a £1 donation gives people involvement. It was an absolutely stupid idea to propose a minimum donation and that should be scrapped. Learn the lessons from the Obama campaign. His millions of $10 and $50 contributions meant he could keep going back to them, when other Candidate donors were maxed out. These donors felt that they were a part of the campaign. They even got an individual portal on the official site mybarrackobama.com
It was the Council House Tories that carried Margaret Thatcher and Blair to power. In order to secure a decent majority we will need them again.
Posted by: TheBigotBasher | May 03, 2009 at 00:07