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New Tory Treasurer Stanley Fink plans to'blow Labour out of water'
Stanley Fink was once spotted on his hands and knees at the edge of a golf course laketrying to retrieve a
1.50 golf ball that was agonisingly out of reach in the water.
By Andrew Porter, Political EditorPublished: 9:30PM GMT 16 Jan 2009Strange behaviour from a man worth hundreds of millions. And yet in thesefrugal times it is the sort of approach that the new co-Treasurer of the ToryParty is likely to need.He was until recently one of the top hedge fund managers in the City. Talking to
in David Cameron's office in Conservative HQ he is now sittingalongside, Michael Spencer, another City star, who has been Tory Treasurer fortwo years.They explain their task. It is simple, but daunting.Mr Spencer says: "On the assumption that theelection will be next year, we need to raise the bestpart of
40million this year. That's a hell of a lot ofmoney."To keep the Conservative Party running each year heneeds to find
15 million, and then around
18 millionon top to fight the election. He says that last yeararound 50,000 people donated in some form andpoints to wider income streams.A weekly lottery draw
1 a ticket
20,000 last year, as did direct mail appeals.On top of that Mr Spencer holds two set pieceparties
the Black and White Ball and the SummerParty. These are both events that Mr Spencer, arenowned lover of the party scene and decent glassof wine, clearly enjoys, but also knows are vital.In recent years the Cameron brand has made his life easier. A younger,fashionable following has gravitated to these gatherings although the largesse ofthose attending is likely to be less now after the financial crisis that hasdevastated the City.
Lord Michael Spencer (left) and Stanley Fink , the new Tory treasurer
Photo: PAUL GROVER
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