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Tory Donors Rake it in Since 2010

Wednesday, April 29, 2015

GMB Welcome Tory DonLabour Pledge On Tax Credits For Working Families In Contrast To Tory Plans Of £3.8 Billion Cuts In In-Work Benefits As Wealth Of Tory Donors Grows By 75.7% Since 2010

Living standards for millions of workers and their families fell as the wealth of 213 financial allies of David Cameron increased by £65.7 billion giving the lie to the claim that during the austerity we are all in this together says GMB.

GMB welcome the Labour election pledge that tax credits for working families would keep pace with inflation. This contrasts to Tory Party plans to cut tax credits by £3.8 billion as part of the welfare cuts of £12 billion. See notes to editors 1 for copy of Labour Party press release on this issue.

Labour is referencing a House of Commons Library analysis which shows how these cuts would affect millions of families currently receiving tax credits:  

·    Families with one child will lose tax credits when their incomes hit £23,000 a year, leaving them over £1,600 a year worse off.

·   
Families with two children will lose tax credits when their incomes hit £29,000, leaving them over £2,000 worse off.

·   
Families earning £12,000 or more will lose at least £550 a year.

GMB is contrasting these planned cuts with a new analysis showing that the wealth of 213 Tory donors, according to the new Sunday Times Rich List, rose from £86.8 billion in 2010 to £152.5 billion in 2015. This is an increase of £65.7 billion or 75.7% in the five years the Tory Party have been in office.  See notes to editors 2 for details of change in wealth of 213 Tory Party donors listed on the Sunday Times Rich list between 2010 and 2015 ranked by change in wealth during period Tories were in office.

Paul Kenny, GMB General Secretary, said "The £12 billion Tory cuts will hit in-work benefits for decent hard working people and their families. These families are set to lose £3.8 billion in Tory plans to cut in work tax credits.

These families come a poor second for the Tory Party. They back the non doms in not paying their fair share of taxes while the Sunday Times Rich list shows the wealth of 213 Tory donors increasing by 75.7% since 2010 as Cameron cut the top rate of tax for the millionaire elite.

Living standards for millions of workers and their families have fallen as the wealth of 213 financial allies of David Cameron increased by £65.7 billion. That gives the lie to the claim that during the austerity we are all in this together."

End

Contact: Kamaljeet Jandu 07956 237178 or Cath Speight 07506 711 925 or Lisa Johnson 07900392 228 or Martin Smith 07974 251722 or GMB Press Office 07921 28988 or 07974 251 823

Notes to editors

Note 1 copy of Labour Party press release dated 10pm 28 April 2015:

MILIBAND: A SECOND TORY TERM WILL PUT YOUR FAMILY BUDGET AT RISK
 
Ed Miliband will tomorrow set out clearly what is at stake for millions of working people across Britain in the final eight days of this election.
 
He will say that the future of every family in every part of Britain is on the ballot paper on May 7, when voters must decide who our country is run for and how it will succeed in the years to come.
 
He will show how millions of family budgets are at risk from a second-term Tory government planning to double the pace of cuts next year and launch multi-billion pound raid on working people’s tax credits. 
 
And he will describe how David Cameron, flailing around to distract attention from an economy that serves only a wealthy few, has shown he cannot defend the Tory record on living standards or his plan for the future.
 
Speaking alongside Ed Balls and Rachel Reeves in Central London, he will commit the next Labour government to protecting family budgets by raising tax credits at least in line with inflation every year.
 
Mr Miliband will publish new analysis showing how the Tory plans to slash benefit spending by £12 billion would mean a raid of £3.8 billion on tax credits.
 
According to House of Commons Library analysis this would affect millions of families currently receiving tax credits:
 

·         Families with one child will lose tax credits when their incomes hit £23,000 a year, leaving them over £1,600 a year worse off
·         Families with two children will lose tax credits when their incomes hit £29,000, leaving them over £2,000 worse off
·         Families earning £12,000 or more will lose at least £550 a year

 
Mr Miliband will say:
 
“This election is not about any one politician or any one political party. It is about you, the people because elections are when you have the power.
 
“This is your time, your moment, your chance to get the change your family needs.
 
“A chance that only comes once every five years; a chance to make a choice to put your family first; a chance to change the way our country is run so it does not put the richest and most powerful first; a chance to make Britain work for working families once again.
 
“We’ve heard a lot from David Cameron in the last five weeks. False promises, dangerous unfunded commitments dreamt up overnight with no idea of where the money is coming from and a plan to pay for the NHS with an IOU.
 
“Today I am here to reveal the truth: if the Tories get back in on May 8th your family budget is at risk. Another five years of Tory government will mean a plan to double the pace of cuts next year, a plan that puts your family budget, your NHS and our country’s future at risk.
 
“I ask you this: do you believe what you’ve heard from the Tories in the last five weeks, or what you’ve seen and what your family has felt in the last five years? It’s when you remember their record you realise the reality of their plan.
 
“It’s a record the Tories are desperate not to talk about, a record to run from not run on.
 
“Labour has a better plan for a better future: a plan not just for a fairer country, but a more prosperous one.
 
“No government led by me as Prime Minister will cut the tax credits that working people rely on, while giving tax breaks to the richest. Instead, a Labour government will raise them at least in line with inflation in every Budget.
 
“That is my commitment. Labour will protect family budgets, defend our schools and invest real money in the NHS.”
 
“A better plan. A better future. Let’s make it happen together.”
 
Ed Balls, Labour’s Shadow Chancellor, will say:
 
“Tax credits help to make work pay for millions of families. That’s why it’s so wrong that the Tories chose to cut them while giving millionaires a tax break.
 
“Labour will put working families first by raising tax credits at least in line with inflation in every Budget. Together with an £8 minimum wage and 25 hours of free childcare for working parents, Labour’s better plan will make work pay.
“Before the last election we warned that the Tories would cut tax credits for families earning £30,000. The Tories said this was a lie, but then did exactly as Labour warned after the election.
 
“Analysis of Tory spending plans shows that David Cameron and George Osborne are planning another raid on the tax credits of millions of working families. They should come clean and admit it.
 
“The choice at next week’s election is clear. Labour’s better plan which will put working families first or a Tory hit to family budgets which working people cannot afford.”
 
Ends

Note 2

Change in wealth of 213 Tory Party donors listed on the Sunday Times Rich list between 2010 and 2015 ranked by change in wealth during period Tories were in office:

Name

Worth 2015 (£m)

Worth 2010 (£m)

Change £m

Galen and George Weston and family

£11,000

£4,500

£6,500

Kirsten Rausing

£8,700

£3,500

£5,200

Sir David and Sir Frederick Barclay

£6,500

£1,800

£4,700

David and Simon Reuben

£9,700

£5,532

£4,168

Nicky Oppenheimer and family

£4,550

£1,500

£3,050

Earl Cadogan and family

£4,800

£2,300

£2,500

Hans and Marit Rausing

£6,400

£4,000

£2,400

Lord Bamford and family

£3,100

£950

£2,150

Bruno Schroder

£3,760

£1,670

£2,090

Sir Henry Keswick and family

£3,275

£1,355

£1,920

Sir Anwar Pervez

£2,440

£580

£1,860

Ian and Richard Livingstone

£3,000

£1,550

£1,450

Mark Pears and family

£2,800

£1,600

£1,200

Charles Dunstone

£1,800

£604

£1,196

Michael Platt

£1,500

£375

£1,125

Eddie and Sol Zakay

£3,000

£1,900

£1,100

Sir Adrian Swire and family

£2,400

£1,400

£1,000

Sir Michael Hintze

£1,230

£300

£930

Lady Ballyedmond and family

£1,400

£500

£900

Zameer Choudrey and family

£975

£80

£895

Stephen Rubin

£1,230

£360

£870

Alastair and Elizabeth Salvesen

£1,000

£180

£820

Crispin Odey

£1,100

£297

£803

Lord Kirkham and family

£1,150

£430

£720

Alexander Knaster

£1,364

£719

£645

Michael Oliver

£724

£90

£634

Alan Howard

£1,500

£875

£625

Chris Rokos

£690

£120

£570

David Harding

£1,000

£430

£570

Mike Gooley

£700

£195

£505

Rosemary and Khaled Said

£1,500

£1,000

£500

Peter Wood

£577

£120

£457

Johan Eliasch

£735

£280

£455

David Sullivan

£850

£400

£450

Philip Day

£750

£300

£450

Sir Cameron Mackintosh

£1,050

£635

£415

Abdul Bhatti and family*

£460

£89

£371

Adalat and Arshad Chaudhary*

£460

£89

£371

Younus Sheikh and family*

£460

£89

£371

Bernard Lewis and family

£1,250

£920

£330

John Martin

£575

£250

£325

Jim Mellon

£850

£530

£320

Sir Arnold Clark and family

£675

£377

£298

Nicholas and Peter Gould**

£375

£80

£295

Ronald Dennis

£350

£87

£263

Yan Huo

£350

£90

£260

Eddie and Malcolm Healey

£1,500

£1,250

£250

Lord Glendonbrook

£425

£200

£225

Lord Fink

£320

£100

£220

Peter Cruddas

£1,025

£810

£215

Clinton, Spencer and John McCarthy

£340

£140

£200

Richard Caring

£800

£600

£200

Christopher Mills

£260

£65

£195

Duke of Bedford

£680

£490

£190

Trevor Hemmings

£675

£500

£175

Christopher Moran

£310

£144

£166

Bill Ainscough and family

£275

£110

£165

Jeremy Hosking

£330

£175

£155

Lord Edmiston

£472

£320

£152

Charles Cayzer

£620

£470

£150

John Guthrie

£260

£120

£140

Robert and Patrick Wilson

£225

£85

£140

The McAlpine family

£346

£210

£136

Tim Parker

£200

£65

£135

Nick Leslau

£280

£150

£130

John and William Asprey

£250

£125

£125

Tony Gallagher

£550

£425

£125

Theo Paphitis

£280

£160

£120

Tony Pidgley

£212

£95

£117

Norman Springford and family

£184

£70

£114

Brian Kingham

£280

£170

£110

Charlotte and James Townshend

£420

£320

£100

Jeremy Isaacs

£170

£70

£100

Jim Hay

£300

£200

£100

Peter Dean and family

£210

£110

£100

Lord Rothschild

£485

£390

£95

Don McCarthy

£180

£90

£90

Michael Oglesby and family

£410

£320

£90

Iqbal Ahmed and family

£205

£120

£85

Robert Brooks

£180

£95

£85

Firoz Kassam

£285

£201

£84

William Ives

£350

£266

£84

Jamie Ritblat

£180

£100

£80

Tony Bramall

£208

£132

£76

Neil Ostrer

£250

£175

£75

Richard Hoare

£300

£225

£75

The Walduck family

£190

£115

£75

Duncan Davidson and family

£149

£75

£74

David Clowes***

£222

£150

£72

Jon Moulton

£220

£150

£70

Lord Ashcroft

£1,320

£1,250

£70

Lord Heseltine and famly

£280

£210

£70

Mohsin and Zuber Issa

£150

£80

£70

The Oughtred family

£155

£90

£65

Anthony Brotherton-Ratcliffe and family

£195

£135

£60

Michael Stone and family

£175

£115

£60

William Lloyd and family

£137

£77

£60

Malcolm Walker

£215

£157

£58

Peter Jones and family

£730

£673

£57

Tom and Stephen Martin

£147

£90

£57

Bruce Mickel and family

£138

£83

£55

Michael Gooch

£250

£195

£55

Gary Dutton

£125

£70

£55

The Shepherd family

£253

£200

£53

Catherine Lagrange

£258

£207

£51

Clive Boultbee Brooks

£250

£200

£50

John Caudwell

£1,450

£1,400

£50

Keith Bradshaw

£180

£130

£50

Lord Laidlaw

£780

£730

£50

The Duke of Northumberland

£350

£300

£50

John Marston and family

£125

£75

£50

Peter Kane

£160

£113

£47

Jimmy and Simon Thomas

£110

£64

£46

Bill, Tim and Pollyanna Gredley and family

£164

£118

£46

James Lupton

£135

£90

£45

Mike Clare

£260

£215

£45

Paul and Johnny Caddick and family

£200

£155

£45

Mike Lynch

£470

£427

£43

Peter and Elizabeth Prowting and family

£147

£105

£42

Duke of Marlborough

£110

£70

£40

Sir Colin Giltrap

£169

£132

£37

Hilda Worth

£130

£95

£35

Melanie Sherwood

£185

£150

£35

Michael and Clara Freeman

£120

£85

£35

Sir Paul Ruddock

£300

£265

£35

Sir Rocco Forte and Olga Polizzi and family

£320

£285

£35

The Warburton family

£530

£495

£35

Julian and Marc Worth

£130

£95

£35

Peter Fitzgerald

£103

£70

£33

Ed Wray

£222

£190

£32

Edward Atkin

£267

£235

£32

Terence Mordaunt

£162

£130

£32

Sir Richard Sutton

£160

£129

£31

Barrie Haigh

£200

£170

£30

Lloyd Dorfman

£550

£520

£30

Stephen Rumsey

£110

£80

£30

The Astor family

£200

£170

£30

Woon Wing Yip and family

£101

£72

£29

Sir Michael and Dermot Smurfit and family

£323

£295

£28

Tony Travis and family

£125

£98

£27

Anwar and Yakub Patel

£135

£108

£27

Richard Harpin

£218

£192

£26

Julian Richer

£140

£115

£25

Michael Spencer

£175

£150

£25

Sir Martyn and James Arbib

£350

£325

£25

Sir Simon Robertson

£120

£95

£25

Terence Cole

£200

£175

£25

Anthony Todd

£165

£141

£24

Alan Lewis

£270

£250

£20

Dorothy Suttie

£350

£330

£20

Hugh Osmond

£250

£230

£20

John Duffield and family

£340

£320

£20

Lord and Charles Saatchi

£145

£125

£20

Sir John and Peter Beckwith

£350

£330

£20

Michael Green

£103

£83

£20

Earl of Halifax

£100

£80

£20

The Duke of Richmond and Gordon and family

£100

£80

£20

Giuseppe Pecorelli and family

£102

£82

£20

David Mabey and family

£214

£196

£18

The Duke of Buccleuch and family

£198

£180

£18

Con Folkes

£102

£85

£17

Nicholas Berry and family

£130

£117

£13

Edelin Davis and family

£110

£98

£12

Dave Whelan

£200

£190

£10

John Berkley and family

£170

£160

£10

Sir Keith Mills

£160

£150

£10

Sir Tim Rice

£150

£140

£10

Frank Burke and family

£115

£105

£10

Nick Forman Hardy and family

£103

£95

£8

Jerome Booth

£112

£105

£7

Martin Ainscough

£206

£200

£6

Brian Scowcroft and Janet Lefton

£165

£160

£5

John Chenevix-Trench

£130

£125

£5

Julian Schild

£150

£145

£5

Walter Scott

£155

£150

£5

Henry Lumley & family

£112

£110

£2

Angela Yeoman and family

£150

£150

£0

John Frieda

£150

£150

£0

Leo Noe

£500

£500

£0

Manny Davidson and family

£220

£220

£0

Poju Zabludowicz

£1,500

£1,500

£0

Sir Robert Ogden

£150

£150

£0

Trudie Styler

£180

£180

£0

Sir Peter Harrison

£198

£199

-£1

Jonathan Green

£190

£195

-£5

Lord Iliffe and family

£235

£240

-£5

Philip and Patricia Brown

£125

£130

-£5

Sir Ronald Hobson

£464

£470

-£6

James Wates and family

£210

£220

-£10

Sir Peter Michael

£145

£155

-£10

Alasdair Locke

£125

£139

-£14

Sir Ray Tindle

£130

£145

-£15

Sir Richard George and family

£120

£135

-£15

David Dunsdon and family

£114

£130

-£16

Vivian Imerman

£355

£375

-£20

Zac and Lady Annabel Goldsmith and family

£280

£300

-£20

Geoffrey Kent

£190

£213

-£23

Sir Donald Gosling

£427

£450

-£23

Terry Bramall

£425

£450

-£25

George Robinson

£185

£215

-£30

Hugh Sloane

£185

£220

-£35

Aidan Heavey

£60

£102

-£42

Richard Hunting and family

£102

£145

-£43

Adam and Robert Fleming

£1,500

£1,550

-£50

Lord Vestey and family

£700

£750

-£50

David Rowland

£655

£730

-£75

Lord Harris

£110

£198

-£88

Tony Buckingham

£475

£565

-£90

Nat Rothschild

£170

£330

-£160

Lord John and Sir Tim Sainsbury

£730

£900

-£170

Sir David and Mark Samworth

£152

£385

-£233

Hamish Ogston

£118

£358

-£240

Ayman and Sawsan Asfari

£575

£826

-£251

 

 

 

 

 

£152,489

£86,758

£65,731

* donations through Bestway

 

 

 

** donations through Regis Group Services Ltd

 

 

*** donations through Clowes Developments (UK) Ltd

 

 

 

 

 

 

 

 

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