The power brokers in the Brexit debate will be unmasked in days when the Electoral Commission publishes the official list of top donors to the rival campaigns.
David Harding, the hedge fund billionaire behind Winton Capital Management, is understood to be the top backer of the “remain” campaign, having ploughed a “seven-figure sum” into Britain Stronger in Europe. Second on the list is Lord (David) Sainsbury of Turville, scion of the supermarket empire. Ian Taylor, the Conservative party donor and chief executive of oil trading empire Vitol, is also understood to be among the financial backers.
Vote “leave” has been backed most prominently by Peter Cruddas. The founder of CMC Markets and former Conservative treasurer said last year that he would donate £1m to the campaign. It is unclear if he is the biggest donor.
More than 100 business leaders last week signed a letter calling for Brexit in the June 23 referendum. The signatories included hedge fund tycoon Crispin Odey, former HSBC chief executive Michael Geoghegan and restaurant entrepreneur Luke Johnson.
The donor list, which will include any individual or company that has contributed more than £7,500 as of April 21, will be published on May 11. It will be followed by two others that will be updated before the vote.
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As ballot day approaches, the campaigns have stepped up their efforts. Last week a group of economists attacked the government’s “Project Fear” arguments as “totally misleading”. They included Gerard Lyons, economic adviser to the mayor of London, Boris Johnson, and Patrick Minford, who used to advise Margaret Thatcher.
They claimed the City would retain its status as the financial capital of Europe, that wages would rise and unemployment would fall if voters chose to leave. Campaigners for a “leave” vote have warned that Britain will be flooded by criminals and immigrants from eastern Europe.
The “remain” campaign has argued that pulling out would throw the economy into reverse as Britain was forced to negotiate new trading and security agreements from a weaker position.
Harding declined to comment on how much he had given to the “remain” cause, but has said: “We would be risking an awful lot if we left. Quite simply, the numbers just don’t stack up on the alternatives. This isn’t an emotional, starry-eyed decision but a practical, hard-headed choice. Britain’s economy is stronger because we’re in Europe.”
