Final two Tory leadership hopefuls face £200k fee to run sparking fears of cash-for-favours row
TORY leadership hopefuls must find £200k to make it to the final round of the race – sparking fears of a cash-for-favours row.
Party insiders told The Sun this cash grab comes as Conservative HQ grapples with financial woes.
But the hefty fees could deter candidates and invite donors expecting favours, according to some MPs.
To keep the cash flowing for the race, the four contenders making it to the conference will be hit with a £50k fee, while the final two must fork out an additional £150k.
A Tory Party spokesman said: “With four candidates heading to Conservative Party Conference, there will be significant opportunities for them to make their pitch to the membership across the four days.
“The contribution we are asking candidates to make to CCHQ reflects these opportunities.”
While such charges aren’t unheard of for leadership races, which are a costly business, this time candidates will also have to shell out for hustings, adding to the mounting costs.
It is also understood the amount expected to be given is around £50k more than in 2022.
It comes as the party is struggling for cash – with the Board raising concerns a long leadership race could leave them high and dry given donors are unlikely to come forward until a new leader is in place.
A Tory MP said: “The amount needed to be raised could put off some candidates.
“And even if you could find donors to support you, it is clear these people will want something in return at some point.”
Former party leader Sir Iain Duncan Smith agreed with those remarks, noting the amount “does seem excessive”.
It comes as Mel Stride today joined Tom Tugendhat, James Cleverly and Robert Jenrick in the race to replace Rishi Sunak as Tory leader.
Shadow communities secretary Kemi Badenoch, the bookmakers’ favourite to succeed Mr Sunak, and former home secretaries Suella Braverman and Dame Priti Patel are expected to put themselves forward before nominations close at 2.30pm on Monday.
During the general election campaign, Labour declared more donations than all other parties combined – taking more than £9.5m in total.
Figures from the elections watchdog show the Conservatives raised just under £1.9m, less than a tenth of what they raised during the 2019 election, when the party declared over £19m.