Heat Street has had sight of who’s funding the two candidates standing in the Labour leadership contest.
Unsurprisingly, Jeremy Corbyn is far ahead having received loans and donations worth a cool £188,778.
His rival, Owen Smith, has declared considerably less financial backing – only £83,204 so far.
The figures come from the latest parliamentary register of MPs’ financial interests.
It’s no surprise to find that Corbyn is being propped up with union money. In particular, the Unite union has made two “unsecured” interest-free loans totalling £75,000 to help his effort. It’s also made a further donation worth £6,000 which comes in the form of office space.
Meanwhile the Fire Brigades Union, the RMT and the TSSA have made donations and donations-in-kind (ie staff and office space as well as hard cash) collectively worth about £50,000.
Momentum, the campaigning company which backs Corbyn, has also made him a £50,000 interest-free loan.
And one individual, fireman and trade unionist Matthew Wrack, has made a private £7,000 gift to Corbyn.
By contrast, Smith’s money comes exclusively from private sources.
Edwards Coaches, a Welsh company, is in for £6,000; and London-based PR firm Quatro has stumped up support worth £9,654.
Smith’s biggest donor is Anthony Watson, who has bankrolled the Smith campaign to the tune of £67,550 so far.
It’s reported today that Unite recently contributed £400,000 to the purchase of a central London flat for its chief, Len McCluskey, who is described as Labour’s kingmaker.
Last time there was a Labour leadership contest, in 2015, Unite gave Corbyn £100,000.
Did McCluskey also approve the £75,000 which the union lent to to Corbyn, as we reveal today?