Labour received its highest-ever yearly amount in private donations across 2023 in a major boost to Sir Keir Starmer’s election war chest.
While the party continued to receive funding from trade unions, the main lift came from individuals and companies – who gave more than £13 million in total.
The biggest backer overall was former Autoglass boss Gary Lubner, who gave £4.5 million, while the largest single donation of £3 million was provided by Lord David Sainsbury, the long-standing Labour supporter.
Lord Sainsbury was a major donor when the party was last in power, serving as a minister in Sir Tony Blair’s government.
He later cut off his support to the party as it shifted to the left under Jeremy Corbyn’s leadership, but returned to the fold in 2022.
Labour Party chairwoman Anneliese Dodds said: “Thanks to Keir Starmer’s leadership, last year was our best fundraising year ever.
“Labour will turn the page on 14 years of Tory failure with a plan to deliver the change Britain deserves.”
The second highest annual sum for private donations to the party was £10.8 million in 2005.
The rise in individual donations comes as Labour holds a sustained double-digit lead over the ruling Conservatives in opinion polls ahead of an election expected later this year.
But the Tories also had a successful fundraising year, including a £10 million bequest from the late Lord John Sainsbury – the cousin of Lord David Sainsbury and former boss of the family’s supermarket company.
Figures published by the Electoral Commission show around £41 million in private cash donations flowed into the coffers of the central party after a challenging previous year.
The Conservatives had recorded an overall loss in 2022 amid a year of political turmoil which saw three different prime ministers enter Number 10.
Labour received around £19 million in cash donations overall, while the ruling party secured around £42 million.
The Liberal Democrats reported around £3 million and Reform UK £255,000 in total cash donations for the year.
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