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Conservative Party donor Arron Banks set to join UKIP Conservative Party donor Arron Banks set to join UKIP
(35 minutes later)
Conservative Party donor Arron Banks is set to join the UK Independence Party and could stand in next May's election.Conservative Party donor Arron Banks is set to join the UK Independence Party and could stand in next May's election.
The insurance entrepreneur has donated more than £250,000 to the Tories since David Cameron became leader in 2005.The insurance entrepreneur has donated more than £250,000 to the Tories since David Cameron became leader in 2005.
He will hand over a £100,000 cheque to UKIP leader Nigel Farage.He will hand over a £100,000 cheque to UKIP leader Nigel Farage.
House of Commons Leader William Hague said he had never heard of Mr Banks, and said his defection would "certainly not" overshadow Mr Cameron's party conference speech later. House of Commons Leader William Hague said he had never heard of Mr Banks, and said his defection would "certainly not" overshadow Mr Cameron's party conference speech.
Mr Banks follows Tory MPs Mark Reckless and Douglas Carswell in switching allegiance from the Conservatives to UKIP in recent weeks.Mr Banks follows Tory MPs Mark Reckless and Douglas Carswell in switching allegiance from the Conservatives to UKIP in recent weeks.
'Significant move''Significant move'
Mr Banks, who runs the insurance company Go Skippy, said the UK remaining in the European Union was "unsustainable" economically, and said being a member of the EU was like "having a first class ticket on the Titanic".Mr Banks, who runs the insurance company Go Skippy, said the UK remaining in the European Union was "unsustainable" economically, and said being a member of the EU was like "having a first class ticket on the Titanic".
He criticised Mr Cameron's plans to renegotiate the UK's membership of the EU, saying: "The Conservative Party try to sell us the myth that EU reform is achievable when frankly all Cameron can offer is tinkering around the edges."He criticised Mr Cameron's plans to renegotiate the UK's membership of the EU, saying: "The Conservative Party try to sell us the myth that EU reform is achievable when frankly all Cameron can offer is tinkering around the edges."
Mr Farage said the business community no longer believed Mr Cameron's promises over an in/out referendum on UK membership of the EU.Mr Farage said the business community no longer believed Mr Cameron's promises over an in/out referendum on UK membership of the EU.
"This is the beginning of a significant move from the business community who are not prepared to wait for Mr Cameron's referendum," he said."This is the beginning of a significant move from the business community who are not prepared to wait for Mr Cameron's referendum," he said.
He added that Mr Banks had expressed an interest in standing as a candidate for UKIP in next year's general election.He added that Mr Banks had expressed an interest in standing as a candidate for UKIP in next year's general election.
Speaking from the Conservative Party conference in Birmingham, Mr Hague said: "The PM will give a very strong speech today bringing together all our plans.Speaking from the Conservative Party conference in Birmingham, Mr Hague said: "The PM will give a very strong speech today bringing together all our plans.
"The conference has fully moved on from the defection of one MP on Saturday and the gentleman you're talking about is not a senior figure in this party not someone I know at all.""The conference has fully moved on from the defection of one MP on Saturday and the gentleman you're talking about is not a senior figure in this party not someone I know at all."
BBC political editor Nick Robinson said there would be relief that the latest Conservative to switch to UKIP was "not a big figure", but added: "Having said that, it is the theme of this conference underlying the surface, which is 'could they stop the Tories winning?'"
Mr Reckless, the former Conservative MP for Rochester and Strood, announced his decision to defect to UKIP on the eve of the conference.Mr Reckless, the former Conservative MP for Rochester and Strood, announced his decision to defect to UKIP on the eve of the conference.
He said that, as a Tory, he could not keep a promise to "cut immigration while treating people fairly".He said that, as a Tory, he could not keep a promise to "cut immigration while treating people fairly".
The Conservatives say that electing them at next May's General Election is the only way for people to ensure there is a referendum on UK membership of the European Union.The Conservatives say that electing them at next May's General Election is the only way for people to ensure there is a referendum on UK membership of the European Union.
David Cameron said Mr Reckless's defection to UKIP was "senseless and counter-productive".David Cameron said Mr Reckless's defection to UKIP was "senseless and counter-productive".