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Trade unions, Qatar and a little-known Hertfordshire business are among the biggest donors to individual MPs since the last general election.

As part of the Westminster Accounts, Sky News and Tortoise Media have compiled a leaderboard showing how much money external organisations and individuals have donated to MPs since the end of 2019.

These donations generally go towards campaigning or staffing and office costs, but also include declarations of gifts and hospitality.

Two of the biggest unions – Unite and GMB – top the list as the biggest donors.

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Over half of Unite’s more than £600,000 of donations to individuals go to just three Labour MPs – all from the left of the party who are no longer in favour with the leadership.

The union gave its largest amount, £249,382, to Rebecca Long-Bailey for her leadership campaign against Sir Keir Starmer in the race to replace Jeremy Corbyn.

Two other former shadow ministers from the Corbyn-era received the next biggest donations, with Richard Burgon declaring donations worth £58,000, and Barry Gardiner recording donations of £31,517.

top donors to mps

The almost £400,000 donated by GMB includes significant sums to members of Sir Keir’s frontbench team, including deputy leader Angela Rayner (£88,686) and shadow levelling up secretary Lisa Nandy (£75,137). GMB also gave £26,533 to Tracy Brabin, the Labour MP for Batley and Spen who was elected as the inaugural mayor of West Yorkshire in 2021.

The other trade unions in the top 20 donors to individual MPs are the Communication Workers Union (£171,483) and USDAW (£122,000).

The third biggest overall donor to individual MPs, however, is a company registered to an office in Hertfordshire that has no website and, according to its accounts, has no employees.

MPM Connect Ltd, has given £345,217 to three well-known Labour MPs: shadow home secretary Yvette Cooper (£184,317), shadow health secretary Wes Streeting (£60,900) and former mayor of South Yorkshire Dan Jarvis (£100,000).

Shadow home secretary Yvette Cooper speaking during the Labour Party Conference at the ACC Liverpool. Picture date: Tuesday September 27, 2022.
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Shadow home secretary Yvette Cooper is one of three MPs who have received large sums from MPM Connect Ltd

In the register of members’ interests, each of the MPs records that the donations go to support their offices with staffing costs.

A similarly low-profile company, IX Wireless, also ranks in the top 20 donors. The broadband provider from Blackburn has given a total of £138,801 in campaign donations to 24 Conservative MPs since the last election.

The government of Qatar is the fourth-biggest donor to MPs, with its Ministry of Foreign Affairs giving a total of £249,932.16 worth of benefits in kind.

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Hospitality and flights to the country have been provided to MPs from Labour, the Conservatives and the SNP, with the three largest donations going to the SNP’s Angus Brendan MacNeil (£13,167), Tory Crispin Blunt (£13,072), and deputy Commons speaker Nigel Evans (£12,992).

Fifth on the list is RAMP – the Refugee, Asylum and Migration Policy project. The charity-funded company has donated £239,715, largely by providing policy advisers to six MPs from the Labour Party, Conservatives and the Liberal Democrats.

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The biggest sources of donations to Conservative politicians include the Carlton Club, which has given hospitality worth a total of £156,570 to 35 MPs in the form of waived membership fees, and J.C Bamford (JCB) which has made donations worth £153,244 to 24 Tory MPs since the last election.

Heathrow Airport has also provided £183,660 worth of hospitality to former prime ministers Theresa May and Boris Johnson for use of the Windsor Suite when travelling.

In some cases, the top-ranked donors were giving to just a single MP. One is JBC Defence, the crowd-sourced fund, which has provided Jeremy Corbyn with £191,100 to cover legal costs.

Jeremy Corbyn
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JBC Defence gave nearly £200,000 to Jeremy Corbyn

Another company to give a large sum to just one MP is Faith in Public Limited, which has given more than £150,000 to former Liberal Democrat leader Tim Farron to fund policy advisers, interns and the services of a PR company.

Campaign group Best for Britain has also given £146,100 to Labour MP Hilary Benn to support the work of the UK Trade and Business Commission, of which he is the co-convener.

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Chair candidates battle to check in at Premier Inn-owner Whitbread

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Chair candidates battle to check in at Premier Inn-owner Whitbread

Two chairs of FTSE-100 companies are vying to succeed Adam Crozier at the top of Whitbread, the London-listed group behind the Premier Inn hotel chain.

Sky News has learnt that Christine Hodgson, who chairs water company Severn Trent, and Andrew Martin, chair of the testing and inspection group Intertek, are the leading contenders for the Whitbread job.

Mr Crozier, who has chaired the leisure group since 2018, is expected to step down later this year.

The search, which has been taking place for several months, is expected to conclude in the coming weeks, according to one City source.

Ms Hodgson has some experience of the leisure industry, having served on the board of Ladbrokes Coral Group until 2017, while Mr Martin was a senior executive at the contract caterer Compass Group and finance chief at the travel agent First Choice Holidays.

Under Mr Crozier’s stewardship, Whitbread has been radically reshaped, selling its Costa Coffee subsidiary to The Coca-Cola Company in 2019 for nearly £4bn.

The company has also seen off an activist campaign spearheaded by Elliott Advisers, while Mr Crozier orchestrated the appointment of Dominic Paul, its chief executive, following Alison Brittain’s retirement.

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It said last year that it sees potential to grow the network from 86,000 UK bedrooms to 125,000 over the next decade or so.

Mr Crozier is one of Britain’s most seasoned boardroom figures, and now chairs BT Group and Kantar, the market research and data business backed by Bain Capital and WPP Group.

He previously ran the Football Association, ITV and – in between – Royal Mail Group.

On Friday, shares in Whitbread closed at £25.41, giving the company a market capitalisation of about £4.5bn.

Whitbread declined to comment this weekend.

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Bank chiefs to Reeves: Ditch ring-fencing to boost UK economy

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Bank chiefs to Reeves: Ditch ring-fencing to boost UK economy

The bosses of four of Britain’s biggest banks are secretly urging the chancellor to ditch the most significant regulatory change imposed after the 2008 financial crisis, warning her its continued imposition is inhibiting UK economic growth.

Sky News has obtained an explosive letter sent this week by the chief executives of HSBC Holdings, Lloyds Banking Group, NatWest Group and Santander UK in which they argue that bank ring-fencing “is not only a drag on banks’ ability to support business and the economy, but is now redundant”.

The CEOs’ letter represents an unprecedented intervention by most of the UK’s major lenders to abolish a reform which cost them billions of pounds to implement and which was designed to make the banking system safer by separating groups’ high street retail operations from their riskier wholesale and investment banking activities.

Their request to Rachel Reeves, the chancellor, to abandon ring-fencing 15 years after it was conceived will be seen as a direct challenge to the government to take drastic action to support the economy during a period when it is forcing economic regulators to scrap red tape.

It will, however, ignite controversy among those who believe that ditching the UK’s most radical post-crisis reform risks exacerbating the consequences of any future banking industry meltdown.

In their letter to the chancellor, the quartet of bank chiefs told Ms Reeves that: “With global economic headwinds, it is crucial that, in support of its Industrial Strategy, the government’s Financial Services Growth and Competitiveness Strategy removes unnecessary constraints on the ability of UK banks to support businesses across the economy and sends the clearest possible signal to investors in the UK of your commitment to reform.

“While we welcomed the recent technical adjustments to the ring-fencing regime, we believe it is now imperative to go further.

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“Removing the ring-fencing regime is, we believe, among the most significant steps the government could take to ensure the prudential framework maximises the banking sector’s ability to support UK businesses and promote economic growth.”

Work on the letter is said to have been led by HSBC, whose new chief executive, Georges Elhedery, is among the signatories.

His counterparts at Lloyds, Charlie Nunn; NatWest’s Paul Thwaite; and Mike Regnier, who runs Santander UK, also signed it.

While Mr Thwaite in particular has been public in questioning the continued need for ring-fencing, the letter – sent on Tuesday – is the first time that such a collective argument has been put so forcefully.

The only notable absentee from the signatories is CS Venkatakrishnan, the Barclays chief executive, although he has publicly said in the past that ring-fencing is not a major financial headache for his bank.

Other industry executives have expressed scepticism about that stance given that ring-fencing’s origination was largely viewed as being an attempt to solve the conundrum posed by Barclays’ vast investment banking operations.

The introduction of ring-fencing forced UK-based lenders with a deposit base of at least £25bn to segregate their retail and investment banking arms, supposedly making them easier to manage in the event that one part of the business faced insolvency.

Banks spent billions of pounds designing and setting up their ring-fenced entities, with separate boards of directors appointed to each division.

More recently, the Treasury has moved to increase the deposit threshold from £25bn to £35bn, amid pressure from a number of faster-growing banks.

Sam Woods, the current chief executive of the main banking regulator, the Prudential Regulation Authority, was involved in formulating proposals published by the Sir John Vickers-led Independent Commission on Banking in 2011.

Legislation to establish ring-fencing was passed in the Financial Services Reform (Banking) Act 2013, and the regime came into effect in 2019.

In addition to ring-fencing, banks were forced to substantially increase the amount and quality of capital they held as a risk buffer, while they were also instructed to create so-called ‘living wills’ in the event that they ran into financial trouble.

The chancellor has repeatedly spoken of the need to regulate for growth rather than risk – a phrase the four banks hope will now persuade her to abandon ring-fencing.

Britain is the only major economy to have adopted such an approach to regulating its banking industry – a fact which the four bank chiefs say is now undermining UK competitiveness.

“Ring-fencing imposes significant and often overlooked costs on businesses, including SMEs, by exposing them to banking constraints not experienced by their international competitors, making it harder for them to scale and compete,” the letter said.

“Lending decisions and pricing are distorted as the considerable liquidity trapped inside the ring-fence can only be used for limited purposes.

“Corporate customers whose financial needs become more complex as they grow larger, more sophisticated, or engage in international trade, are adversely affected given the limits on services ring-fenced banks can provide.

“Removing ring-fencing would eliminate these cliff-edge effects and allow firms to obtain the full suite of products and services from a single bank, reducing administrative costs”.

In recent months, doubts have resurfaced about the commitment of Spanish banking giant Santander to its UK operations amid complaints about the costs of regulation and supervision.

The UK’s fifth-largest high street lender held tentative conversations about a sale to either Barclays or NatWest, although they did not progress to a formal stage.

HSBC, meanwhile, is particularly restless about the impact of ring-fencing on its business, given its sprawling international footprint.

“There has been a material decline in UK wholesale banking since ring-fencing was introduced, to the detriment of British businesses and the perception of the UK as an internationally orientated economy with a global financial centre,” the letter said.

“The regime causes capital inefficiencies and traps liquidity, preventing it from being deployed efficiently across Group entities.”

The four bosses called on Ms Reeves to use this summer’s Mansion House dinner – the City’s annual set-piece event – to deliver “a clear statement of intent…to abolish ring-fencing during this Parliament”.

Doing so, they argued, would “demonstrate the government’s determination to do what it takes to promote growth and send the strongest possible signal to investors of your commitment to the City and to strengthen the UK’s position as a leading international financial centre”.

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Post Office to unveil £1.75bn banking deal with big British lenders

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Post Office to unveil £1.75bn banking deal with big British lenders

The Post Office will next week unveil a £1.75bn deal with dozens of banks which will allow their customers to continue using Britain’s biggest retail network.

Sky News has learnt the next Post Office banking framework will be launched next Wednesday, with an agreement that will deliver an additional £500m to the government-owned company.

Banking industry sources said on Friday the deal would be worth roughly £350m annually to the Post Office – an uplift from the existing £250m-a-year deal, which expires at the end of the year.

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The sources added that in return for the additional payments, the Post Office would make a range of commitments to improving the service it provides to banks’ customers who use its branches.

Banks which participate in the arrangements include Barclays, HSBC, Lloyds Banking Group, NatWest Group and Santander UK.

Under the Banking Framework Agreement, the 30 banks and mutuals’ customers can access the Post Office’s 11,500 branches for a range of services, including depositing and withdrawing cash.

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The service is particularly valuable to those who still rely on physical cash after a decade in which well over 6,000 bank branches have been closed across Britain.

In 2023, more than £10bn worth of cash was withdrawn over the counter and £29bn in cash was deposited over the counter, the Post Office said last year.

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A new, longer-term deal with the banks comes at a critical time for the Post Office, which is trying to secure government funding to bolster the pay of thousands of sub-postmasters.

Reliant on an annual government subsidy, the reputation of the network’s previous management team was left in tatters by the Horizon IT scandal and the wrongful conviction of hundreds of sub-postmasters.

A Post Office spokesperson declined to comment ahead of next week’s announcement.

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