CommentPlus: pick of the papers

The ten must-read pieces from this morning's papers.

1. Why Britain should vote No in next year's AV referendum (Daily Telegraph)

The Alternative Vote system is obscure, unfair and expensive, says Lord Reid.

2. There won't be a bailout for the earth (Independent)

The world's governments are gathering in Cancun with no momentum to stop climate change, warns Johann Hari.

3. Red Ed should pass the baton to Green Ed (Times) (£)

Green Ed would be on strong ground, talking about what he knows and running on his record, says Philip Collins.

Read the CommentPlus summary.

4. Capitalism can save the planet (Financial Times)

Elsewhere, Philip Stephens says that self-interest, not altruism, is needed to fight climate change. Economic incentives are replacing the big stick of international direction.

5. Bank bonuses unbound (Guardian)

Despite coalition pledges to make the City pay its fair share, Osborne has let bankers off the hook, says Chuka Umunna.

Read the CommentPlus summary.

6. High-speed rail will be a scar across the heart of England (Daily Telegraph)

Even if we could afford it, a new train line would be a lunatic idea, says Peter Oborne.

7. Assets matter just as much as debt (Financial Times)

Borrowing is no sin, provided we use the funds productively, argues Martin Wolf.

8. If Cameron's wellbeing is seats on trains, affording a ticket comes first (Guardian)

Money may not be everything, writes Martin Kettle. But fairness and wellbeing are both made much harder when it is being taken away.

Read the CommentPlus summary.

9. Would Mr Gove's soldiers do any better in the classroom? (Daily Mail)

Servicemen would struggle to control a class full of bolshie British schoolchildren, says Tom Utley.

10. Everything else is being cut, so why not student numbers? (Independent)

Rather than wait for the market to cut student numbers, universities should take the initiative, writes Mary Dejevsky.

Getty
Show Hide image

Lord Sainsbury pulls funding from Progress and other political causes

The longstanding Labour donor will no longer fund party political causes. 

Centrist Labour MPs face a funding gap for their ideas after the longstanding Labour donor Lord Sainsbury announced he will stop financing party political causes.

Sainsbury, who served as a New Labour minister and also donated to the Liberal Democrats, is instead concentrating on charitable causes. 

Lord Sainsbury funded the centrist organisation Progress, dubbed the “original Blairite pressure group”, which was founded in mid Nineties and provided the intellectual underpinnings of New Labour.

The former supermarket boss is understood to still fund Policy Network, an international thinktank headed by New Labour veteran Peter Mandelson.

He has also funded the Remain campaign group Britain Stronger in Europe. The latter reinvented itself as Open Britain after the Leave vote, and has campaigned for a softer Brexit. Its supporters include former Lib Dem leader Nick Clegg and Labour's Chuka Umunna, and it now relies on grassroots funding.

Sainsbury said he wished to “hand the baton on to a new generation of donors” who supported progressive politics. 

Progress director Richard Angell said: “Progress is extremely grateful to Lord Sainsbury for the funding he has provided for over two decades. We always knew it would not last forever.”

The organisation has raised a third of its funding target from other donors, but is now appealing for financial support from Labour supporters. Its aims include “stopping a hard-left take over” of the Labour party and “renewing the ideas of the centre-left”. 

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines. 

0800 7318496