The £500,000 donations for Liz Truss’ Tory leadership campaign

The Guardian has broken a horrifying and believable story that Liz Truss raised £500,000 in donations for her Tory leadership campaign with “about half of it coming from donors linked to hedge fund bosses, venture capitalists and other City financiers”.

In August Liberal Democrat Voice ran an article where I suggested that the Tory leadership campaign was looking like a presidential election — with a tiny, and unrepresentative electorate. That tips power further from Parliament to No.10 and pretends that the new leader has an entirely false legitimacy.

News of these donations takes this to a whole new level.

Of course, a leadership campaign costs money. A large number of small donations from Tory members would have been an early indication of support. But the actual donations are large, mostly in excess of £5,000, and the largest being £100,000. That looks like a small number of people having a large influence. Have we just seen a Prime Minister chosen by the 172,437 members of the Conservative party, or by the handful who put up the money?

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