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Spread betting founder key backer of No to AV Campaign PDF  | Print |  E-mail
Written by Will Peters   
Tuesday, 19 April 2011 10:31

Spread betting company CMC Markets founder backs No to AV.


Peter Cruddas, founder of financial spread betting heavyweight CMC Markets has emerged as one of the key backers of the 'No to AV' campaign.

'No to AV' refers to those politicians, from different party backgrounds, that are opposed to changes to the UK voting system. The UK public goes to the polls in early May.

The No campaign released a statement revealing that it had received £1.8m in donations of over the declarable limit of £7,500 from 41 donors.

The philanthropist Peter Cruddas, founder of the CMC Markets - the spread betting company - gave the largest donation of £400,000.

The list also includes a series of Tory supporters: Lord (John) Sainsbury, the former minister, who gave £100,000; Michael Farmer, a city financier, who has donated £2.3m to the Tories and who donated £100,000; to the campaign.

Lord (Philip) Harris, a contributor to David Cameron's Tory leadership campaign in 2005, who gave £75,000; and

Lord Fink, the hedge fund manager and Tory Treasurer who was ennobled by Cameron after making generous donations to the Tories.

Trade unions have also made donations.

The GMB has given £10,000.
 

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