Billionaire Backer Shifts Allegiance: John Caudwell Endorses Labour in Stunning Rebuke to Tories

Wealthy philanthropist John Caudwell supports Labour, expressing frustration with Conservative leadership

John Caudauldwell, who established Phone4U, previously donated £500,000 to Boris Johnson's 2019 campaign. However, he cites the "shortcomings" of the former Prime Minister and subsequent leaders as his reason for switching allegiances.

By Faye Brown, political correspondent

Tuesday, June 18, 2024, 9:

A wealthy supporter who previously endorsed Boris Johnson during the last election has shifted allegiance, stating he plans to vote for the Labour Party in the upcoming month due to his disappointment with the Conservative Party's performance.

John Caudwell, the entrepreneur behind Phones4U, donated £500,000 to the Conservative Party in 2019, citing his desire to prevent what he referred to as the catastrophe of having Jeremy Corbyn as Prime Minister.

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He stated that the shortcomings of the three prime ministers who have served since then, combined with the significant changes in the Labour Party under the leadership of Sir Keir Starmer, prompted him to change his political loyalty for the first time ever.

Mr. Caudwell expressed, "For a long time, I've become increasingly disillusioned with the results of the party I've backed for the past 51 years: the Tories."

Just five years back, I contributed half a million pounds to the Conservative Party to prevent what would have been a disastrous tenure by Jeremy Corbyn at Downing Street.

"I've grown more outspoken about the Conservatives' shortcomings over time, especially concerning Rishi's poor handling of the economic issues during the pandemic, Boris' compromise on ethical norms, and the related claims of Tory allies gaining undue advantages from Covid PPE contracts, not to mention the fiasco under Liz Truss's leadership."

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Mr. Caudwell expressed his astonishment at the transformation of the Labour Party under Keir Starmer’s leadership over the past couple of years, noting that the party has significantly recovered from its previous state under Corbyn.

"I've consistently maintained that to boost GDP and fund public services that advantage everyone, the government needs to adopt a more business-like approach, without resorting to tax hikes."

He expressed his pleasure that economic expansion was a major focus of Labour's manifesto, noting that the forecasted growth is directly linked to transforming Britain into a leader in clean energy.

He stated: "Therefore, I am openly announcing my support for the Labour Party, and I urge everyone to also vote for them.

"I am committed to advocating for a robust Labour Government capable of making courageous choices. You can be certain that I will exert my utmost influence to help restore Britain's greatness."

The latest election poll suggests a significant victory for Sir Keir, indicating a potential 256-seat majority, which would be the biggest for any government since World War II. This serves as an additional uplift for Sir Keir's prospects.

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If true, this would send the Conservative Party to an unprecedented low in terms of seats in Parliament, a significant shift from the dominant 80-seat majority they secured five years earlier.

The news comes after a recent discussion between Mr. Caudwell and Sir Keir.

Sir Keir expressed his pleasure, stating: "It's thrilling that John, an individual renowned for his accomplishments in the business realm, has today endorsed the transformed Labour Party under my leadership."

"The takeaway is obvious: the business community supports reform and economic steadiness with Labour, while turning away from another five years of turmoil and downturn under the Tories."

Sir Keir stated: "John not only voted for the Conservatives but also made significant contributions to their party in 2019 – indicating that this was not an easy decision for him. However, it is evident that he supports the growth strategy I outlined in the Labour manifesto.

"I'll be tirelessly campaigning from now until July 4th to secure the support of former Tory voters who believe that embracing Labour represents the brightest path forward for Britain."

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