The Conservatives have accused Ed Miliband of hypocrisy for taking donations and giving jobs to people accused of the kind of practices he has attacked as “predatory” capitalism.
In his speech to the Labour Party conference in September, Miliband slammed “predatory” practices like asset-stripping and going for “the fast buck”.
Figures released today by the Electoral Commission show that Andrew Rosenfeld donated £121,440 to Labour in the last three months of last year. The Conservatives say he has promised to donate £1m to Labour. He is now a senior strategic adviser to the party.
Rosenfeld was co-founder of property investment and development firm Minerva and is estimated to be worth over £100m. The firm was the largest shareholder in a vehicle called Scarlett retail which owned Allders when it went into administration in 2005 leaving a £68m deficit in its final salary pension scheme.
Conservative party co-chair Sayeeda Warsi says: “If Ed Miliband is serious about backing ‘productive’ rather than ‘predatory’ businesses, then he needs to explain why he is happy to be bankrolled and advised by a man who moved to Switzerland to avoid paying tax in Britain and whose ‘predatory’ business practices left the Allders’ pensioners high and dry?
Unless he rejects Andrew Rosenfeld’s cash, Ed Miliband’s tough talk will simply be hypocritical posturing from a weak leader.”