Tory loyalist in UKIP switch

Date published: 11 January 2011

Election 2011

UKIP leader Nigel Farage was in Oldham yesterday to announce a surprise new member to his party.

Spread-betting pioneer Stuart Wheeler — the UK’s biggest ever single political donor — joined UKIP as party treasurer.

The pair made the announcement at a press conference in Lees, close to UKIP campaign headquarters. Mr Farage said he was “absolutely thrilled” and described the move as “a big step forward” for the party.

He predicted it would be a catalyst for other long-term Conservative loyalists to ponder the difference between the three main parties.

Mr Wheeler said: “I believe what UKIP is doing is absolutely crucial for this country,” and said he was honoured to be asked to be its treasurer.

An Old Etonian, Mr Wheeler (75) made his fortune as the founder of IG Index, and is best known for his political activism. He donated £5m to the Conservative Party during the 2001 election campaign, but was expelled from the party in 2009 after he made a £100,000 donation to the UKIP party. He then founded a new political party, the Trust Party.

He bought Chilham Castle, Kent, for £7.3 million, and yesterday said its restoration costs would prevent him being as generous a supporter of UKIP as he had been of the Tory party.

Trail

Mr Wheeler was due to join the campaign trail today, canvassing in Oldham East and Saddleworth.

He told the Chronicle: “Oldham was the obvious place to make the announcement because of Thursday’s by-election.

“It’s a very interesting constituency. It’s particularly important to beat the BNP. I hope my presence will boost support for UKIP.”