Ignoring recommendations they now have a £78 m war chest having changed the law on candidates’ election spending. The law passed without parliamentary debate, ignoring Electoral Commission recommendations that it would lead to “excessive spending to prevent the perception of undue influence over the outcome of the election”.

A Labour Party executive said: “[David Cameron] promised to take the big money out of politics … Yet he has now cynically changed his tune …”

Parties can now spend up to £32.7 m on elections, up from £26.5 m. The law was changed by Statutory Instrument, the terms of which were not debated in the House of Cards (sorry, Commons).

Of the £78m raised by the Conservative Party, more than £21m has been donated by hedge funds. George Osborne’s recent stamp duty changes gave a £145 m giveaway to hedge funds.

Dinner clubs and auctions have raised £6m – including a jar of Hugo Swire honey auctioned at £15,000:

http://www.telegraph.co.uk/finance/comment/citydiary/10944187/City-Diary-After-dinner-auction-could-turn-into-a-honey-trap-for-the-Tories.html