Billionaire Backs Labour: John Caudwell Endorses Keir Starmer

Billionaire John Caudwell, a major donor to the Conservative Party, has announced his support for Keir Starmer's Labour Party in the upcoming election. Caudwell criticized the Conservatives' performance and called for a strong Labour government. Labour leader Starmer welcomed the endorsement, emphasizing economic stability and business support.

Reuters | London | Updated: 19-06-2024 00:04 IST | Created: 19-06-2024 00:04 IST
Billionaire Backs Labour: John Caudwell Endorses Keir Starmer
  • Country:
  • United Kingdom

Billionaire John Caudwell, one of the governing Conservative Party's biggest donors before Britain's last national election in 2019, said on Tuesday he would instead be backing Keir Starmer's Labour Party at the upcoming July 4 vote. "I can declare publicly that I will vote for Labour, and I encourage everybody to do the same," Caudwell said in a statement.

"We need a very strong Labour Government that can take extremely bold decisions and you can rest assured that I will be doing my best to influence them wherever I can, in putting the great back in Britain." Caudwell made nearly 1.5 billion pounds ($1.9 billion) in 2006 when he sold his mobile phone retailer Phones 4u.

He said he had been despairing about the Conservatives' performance in government for "many years". Previously, in an interview with Reuters, Caudwell had described Labour as a untested.

Labour leader Starmer welcomed the 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," he said.

"The message is clear: business backs change and economic stability with Labour, and rejects 5 more years of chaos and decline with the Tories."

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback