Conservatives Battle to Retain Donors Amid Reform UK Surge

The Conservative Party is currently in a struggle to prevent major donors from transferring their allegiance to Nigel Farage's Reform UK, which is gaining momentum in the polls. As the political landscape shifts, Kemi Badenoch is expected to make an appearance at the party's London conference, where affluent supporters of the Conservatives will gather for an evening reception.

Concerns within the Tory headquarters are mounting as it appears numerous contributors are contemplating retracting their support in favor of Reform UK. This suspicion is fueled by a recent high-profile fundraiser held by Reform, where previous Conservative supporters raised over £1 million. The financial influx will support their campaign to position themselves as a legitimate challenger to Labour as well as a critical alternative to the Conservatives.

Recent polling data indicates that Reform UK has surpassed the Conservatives, pushing them into a third-place position. A recent Techne tracker poll indicated that the Conservatives saw a drop to 23 percent, while Reform UK remained stable at 24 percent and Labour inched up to 26 percent. This shifting dynamic enhances Reform's appeal to potential donors, intensifying concerns among Conservative leaders.

A source close to the party revealed that the last few months have marked a low point in financial contributions to the Conservatives, causing significant anxiety within the treasurer's office regarding the dwindling number of supporters. Among the worried figures is Sir Rocco Forte, a luxury hotel operator and former supporter of Badenoch’s leadership bid, who expressed uncertainty about the current direction of the Conservative Party, questioning what they are doing to inspire confidence.

Sir Rocco highlighted his belief in Badenoch’s potential for leading a necessary transformation, praising some of the sentiments expressed by Reform. However, he warned that Badenoch needs to distance herself from the Conservative Party's previous strategies of moderation that many view unfavorably.

Party insiders indicated that Badenoch has not sufficiently engaged with donors, referencing recent instances where she arrived late to gatherings and left early without making clear appeals for support. Meanwhile, Reform UK has identified Badenoch's North West Essex constituency as a key target, indicating their determination to directly challenge her influence.

In response to the rising support for Reform UK, Farage suggested that the Conservative Party's decline is just beginning, foreseeing rapid drops in support particularly in Wales. Techne UK’s chief executive stated that the latest polling results spell extremely troubling news for Badenoch and her party, prompting further scrutiny of the Conservative leadership. The Conservative Party has yet to issue a formal comment on these developments.