Former Tory donor John Caudwell, disillusioned with recent Conservative leadership, has announced his support for Labour in the upcoming election, praising Keir Starmer’s focus on economic growth and environmental sustainability. Here’s the full story.
Nasty Shock
John Caudwell, the billionaire founder of the now defunct Phones4U, who previously gave £500,000 to the Conservatives, had a nasty shock in store for them.
Voting Labour
In a surprising move, Caudwell has announced his intention to vote for Labour in the upcoming general election despite his history as one of the Tories’ most significant financial backers in the past.
Deep Disillusionment
Caudwell’s decision to support Labour, first announced in the Times and by the BBC, is rooted in his deepening and growing disillusionment with the Conservative Party, particularly its leadership under Prime Minister Rishi Sunak.
“Absolute Dud”
Of Sunak, Caudwell stated that he was “an absolute dud,” adding, “Everything he did within COVID was wrong. He paid people for furlough which was all or nothing. He gave them too much in the wrong way.”
Evidence of Failure
He added, “The criticisms that I made of Rishi during his chancellorship, I think were pretty much evidenced in the D Day situation.”
Frustration With Tories
However, Sunak was not the only Conservative leader who Caudwell had severe criticisms of, as he expressed increasing frustration with what he perceived as the party’s mismanagement over the last few years.
Longtime Tory Supporter
Caudwell stated, “For many years now, I have been rather despairing about the performance of the party that I have supported for the last 51 years: the Tories. Only five years ago, I donated half a million to the Conservatives to help avert the disaster that would have been Jeremy Corbyn in Downing Street.”
Criticism of Failures
He added, “But I’ve been increasingly critical of Tory failures since then, particularly over Rishi’s mismanagement of the economy during Covid, Boris’s lowering of ethical standards – and, of course, associated with that the accusation that Tory cronies benefited improperly regarding Covid PPE – and then the Liz Truss debacle.”
Celebrations at Labour HQ
Caudwell did not stop by criticising the Conservatives in a move that will likely cause celebrations at Labour Party HQ.
Starmer’s Transformation
Caudwell went on to say, “Over the last two years especially, I have been amazed by how Keir Starmer has transformed the Labour party and brought it back from that Corbyn brink. As I have always said, the government must be much more commercially minded to grow GDP in order to finance the public services that benefit all of society without increasing taxes.”
Delighted by Manifesto
He continued, “When Labour launched its manifesto last Thursday, I was delighted to see that accelerating economic growth was front and centre, and that projected growth is clearly tied into making Britain a clean energy superpower. So, I can declare publicly that I will vote for Labour and I encourage everybody to do the same.”
Not Previously a Fan
Caudwell admitted that he was not previously a fan of Labour but applauded Labour leader Keir Starmer’s purge of the “loony left” and their “extreme socialist policies.”
Economic Growth and Sustainability
Caudwell also emphasised the importance of economic growth and environmental sustainability in his decision to back Labour.
GDP and Environment
He was particularly pleased with Labour’s commitment to accelerating economic growth, stating, “What I see is a Labour Party committed to GDP growth and the environment. Without GDP growth you can’t look after your social services. And without focusing on the environment there won’t be a world to look after.”
Starmer Welcomes Endorsement
Starmer welcomed Caudwell’s ringing endorsement: “I’m delighted that John, someone with such a successful track record in business, has today thrown his support behind the changed Labour party that I lead.”
Business Backs Change
He added, “The message is clear: business backs change and economic stability with Labour and rejects five more years of chaos and decline with the Tories.”
Devastating Blow
Caudwell’s public shift to Labour represents a devastating blow to a Conservative Party which has had its fair share of devastating blows in this election campaign, both financially and symbolically.
Scathing Critique
His scathing critique of the Conservative party’s recent performance in government seems to match the public’s mood, which, even in the last few days, openly mocked Sunak in the TV debates when he attempted to defend his party’s record in government.
Resonating Endorsement
Caudwell’s endorsement of Keir Starmer’s vision for economic growth and environmental sustainability may resonate with other business leaders and even convince them to vote for Labour, possibly for the first time.
Election Influence?
However, as the election approaches, it remains to be seen if Caudwell’s decision may influence other similarly disillusioned voters seeking an alternative in Labour.
The post Billionaire Donor Abandons Tories, Endorses Labour and Starmer’s Policies first appeared on Now Buzz.
Featured Image Credit: Shutterstock / Martin Suker.