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.
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-Baileyfor 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.
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.
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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).
Image: 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.
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.
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.
Image: 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.
Britain’s biggest high street bank is in talks to buy Curve, the digital wallet provider, amid growing regulatory pressure on Apple to open its payment services to rivals.
Sky News has learnt that Lloyds Banking Group is in advanced discussions to acquire Curve for a price believed to be up to £120m.
City sources said this weekend that if the negotiations were successfully concluded, a deal could be announced by the end of September.
Curve was founded by Shachar Bialick, a former Israeli special forces soldier, in 2016.
Three years later, he told an interviewer: “In 10 years time we are going to be IPOed [listed on the public equity markets]… and hopefully worth around $50bn to $60bn.”
One insider said this weekend that Curve was being advised by KBW, part of the investment bank Stifel, on the discussions with Lloyds.
If a mooted price range of £100m-£120m turns out to be accurate, that would represent a lower valuation than the £133m Curve raised in its Series C funding round, which concluded in 2023.
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That round included backing from Britannia, IDC Ventures, Cercano Management – the venture arm of Microsoft co-founder Paul Allen’s estate – and Outward VC.
It was also reported to have raised more than £40m last year, while reducing employee numbers and suspending its US expansion.
In total, the company has raised more than £200m in equity since it was founded.
Curve has been positioned as a rival to Apple Pay in recent years, having initially launched as an app enabling consumers to combine their debit and credit cards in a single wallet.
One source close to the prospective deal said that Lloyds had identified Curve as a strategically attractive bid target as it pushes deeper into payments infrastructure under chief executive Charlie Nunn.
Lloyds is also said to believe that Curve would be a financially rational asset to own because of the fees Apple charges consumers to use its Apple Pay service.
In March, the Financial Conduct Authority and Payment Systems Regulator began working with the Competition and Markets Authority to examine the implications of the growth of digital wallets owned by Apple and Google.
Lloyds owns stakes in a number of fintechs, including the banking-as-a-service platform ThoughtMachine, but has set expanding its tech capabilities as a key strategic objective.
The group employs more than 70,000 people and operates more than 750 branches across Britain.
Curve is chaired by Lord Fink, the former Man Group chief executive who has become a prolific investor in British technology start-ups.
When he was appointed to the role in January, he said: “Working alongside Curve as an investor, I have had a ringside seat to the company’s unassailable and well-earned rise.
“Beginning as a card which combines all your cards into one, to the all-encompassing digital wallet it has evolved into, Curve offers a transformative financial management experience to its users.
“I am proud to have been part of the journey so far, and welcome the chance to support the company through its next, very significant period of growth.”
IDC Ventures, one of the investors in Curve’s Series C funding round, said at the time of its last major fundraising: “Thanks to their unique technology…they have the capability to intercept the transaction and supercharge the customer experience, with its Double Dip Rewards, [and] eliminating nasty hidden fees.
“And they do it seamlessly, without any need for the customer to change the cards they pay with.”
News of the talks between Lloyds and Curve comes days before Rachel Reeves, the chancellor, is expected to outline plans to bolster Britain’s fintech sector by endorsing a concierge service to match start-ups with investors.
Lord Fink declined to comment when contacted by Sky News on Saturday morning, while Curve did not respond to an enquiry sent by email.
Lloyds also declined to comment, while Stifel KBW could not be reached for comment.
The UK economy unexpectedly shrank in May, even after the worst of Donald Trump’s tariffs were paused, official figures showed.
A standard measure of economic growth, gross domestic product (GDP), contracted 0.1% in May, according to the Office for National Statistics (ONS).
Rather than a fall being anticipated, growth of 0.1% was forecast by economists polled by Reuters as big falls in production and construction were seen.
It followed a 0.3% contraction in April, when Mr Trump announced his country-specific tariffs and sparked a global trade war.
A 90-day pause on these import taxes, which has been extended, allowed more normality to resume.
This was borne out by other figures released by the ONS on Friday.
Exports to the United States rose £300m but “remained relatively low” following a “substantial decrease” in April, the data said.
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Overall, there was a “large rise in goods imports and a fall in goods exports”.
A ‘disappointing’ but mixed picture
It’s “disappointing” news, Chancellor Rachel Reeves said. She and the government as a whole have repeatedly said growing the economy was their number one priority.
“I am determined to kickstart economic growth and deliver on that promise”, she added.
But the picture was not all bad.
Growth recorded in March was revised upwards, further indicating that companies invested to prepare for tariffs. Rather than GDP of 0.2%, the ONS said on Friday the figure was actually 0.4%.
It showed businesses moved forward activity to be ready for the extra taxes. Businesses were hit with higher employer national insurance contributions in April.
The expansion in March means the economy still grew when the three months are looked at together.
While an interest rate cut in August had already been expected, investors upped their bets of a 0.25 percentage point fall in the Bank of England’s base interest rate.
Such a cut would bring down the rate to 4% and make borrowing cheaper.
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Analysts from economic research firm Pantheon Macro said the data was not as bad as it looked.
“The size of the manufacturing drop looks erratic to us and should partly unwind… There are signs that GDP growth can rebound in June”, said Pantheon’s chief UK economist, Rob Wood.
Why did the economy shrink?
The drops in manufacturing came mostly due to slowed car-making, less oil and gas extraction and the pharmaceutical industry.
The fall was not larger because the services industry – the largest part of the economy – expanded, with law firms and computer programmers having a good month.
It made up for a “very weak” month for retailers, the ONS said.
Monthly Gross Domestic Product (GDP) figures are volatile and, on their own, don’t tell us much.
However, the picture emerging a year since the election of the Labour government is not hugely comforting.
This is a government that promised to turbocharge economic growth, the key to improving livelihoods and the public finances. Instead, the economy is mainly flatlining.
Output shrank in May by 0.1%. That followed a 0.3% drop in April.
However, the subsequent data has shown us that much of that growth was artificial, with businesses racing to get orders out of the door to beat the possible introduction of tariffs. Property transactions were also brought forward to beat stamp duty changes.
In April, we experienced the hangover as orders and industrial output dropped. Services also struggled as demand for legal and conveyancing services dropped after the stamp duty changes.
Many of those distortions have now been smoothed out, but the manufacturing sector still struggled in May.
Signs of recovery
Manufacturing output fell by 1% in May, but more up-to-date data suggests the sector is recovering.
“We expect both cars and pharma output to improve as the UK-US trade deal comes into force and the volatility unwinds,” economists at Pantheon Macroeconomics said.
Meanwhile, the services sector eked out growth of 0.1%.
A 2.7% month-to-month fall in retail sales suppressed growth in the sector, but that should improve with hot weather likely to boost demand at restaurants and pubs.
Struggles ahead
It is unlikely, however, to massively shift the dial for the economy, the kind of shift the Labour government has promised and needs in order to give it some breathing room against its fiscal rules.
The economy remains fragile, and there are risks and traps lurking around the corner.
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Concerns that the chancellor, Rachel Reeves, is considering tax hikes could weigh on consumer confidence, at a time when businesses are already scaling back hiring because of national insurance tax hikes.
Inflation is also expected to climb in the second half of the year, further weighing on consumers and businesses.