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Fidelity leads City boost for Tories

Fidelity has pumped £365,000 into the Conservative Party’s coffers in the last three years, according to Electoral Commission figures.

The company has been a regular contributor to Tory funds since April 2004, apart from 2005, providing donations of £40,000 or £50,000 each time.

There has been increased appetite in the City to provide funding to the party, with its City Circle group led by Tory vice-chairman Richard Spring and Icap chief executive Michael Spencer courting support. The group has over 6,000 members and more than 1,000 attended a recent reception in the Square Mile.

Caledonia Investments announced last week it was seeking shareholder agreement to donate £60,000 to the Tories.

Meanwhile, New Star fund manager Patrick Evershed has renewed his personal advertising in the national press attacking Gordon Brown’s stewardship of the economy.

In an advertisement in the Daily Telegraph recently, estimated to have cost around £3,000, Evershed suggests Brown has undermined the strong economy inherited from the Tories by creating huge levels of personal debt and attacking private sector pensions. The ad says: “Those starting work now will be lucky if their pensions are worth half as much as those of their parents. Furthermore, low interest rates and uncontrolled immigration have forced house prices up to a level which is preventing the majority of those under 35 getting on to the first rung of the housing ladder.”

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