Big firms named as Labour Party donors
Three major accounting and consulting firms have been named as donors to the Labour Party in its annual report that reveals the party has gone further into the red.
Ernst & Young, KPMG and Andersen Consulting are reported to be among firms that ‘provided services in kind’ which helped raise an extra £1.5m but failed to prevent the party falling to over £2m in debt.
The value of services was not disclosed.
The accounts show that the three firms acted ‘for commercial reasons, but at a cost which could be deemed to constitute a benefit in kind’.
As at least one of the firms gears up for a major presence at the party conferences, the news is evidence of the increasingly close connections between Labour and big business.
KPMG is planning to be present at all three of the major political party conferences, including the co-hosting of a dinner with pressure group London First, and fringe meetings with NHS think-tank New Health Network.
A spokesman said that as well as providing a secondee to the Labour Party, the firm had helped with the new Labour party organisation in Scotland following devolution.
He said: ‘As well as maintaining liaison with government, this also gives our people good experience and opportunities.’