The Staggers

The New Statesman’s rolling politics blog

Tories auction off City internships to raise funds

Supporters pay thousands to get their children work experience in hedge funds and banks.

By Helen Lewis Published 13 February 2011 14:33

The Conservative Party banned the press from its Black and White Party (it used to be a "ball"), but that hasn't stopped the news leaking that it raised funds there by auctioning work experience opportunities with banks and hedge funds.

The Mail on Sunday reports that lots at the £400-a-head party included five internships at City firms, which raised £14,000 in all. The Labour MP Tom Watson told the Mail: "This is a crass example of rich Tories buying privilege. Most young people could only dream of this opportunity. The Conservatives flog them like baubles and fill their coffers with the profits. It is obscene."

Andrew Marr commented on his show this morning: "This money is going to be used by the Conservative Party, presumably, to tell us we're all in it together."

His guest Mark Malloch Brown added: "They have to be really careful, because their only way to get through the next few years is maintaining that assertion – we're all in it together – and the more . . . that gets breached, this kind of rich person's club, buying internships at hedge funds gets exposed, the harder it's going to be to promote this One-Nation coalition government."

The Tory party refused to comment to the Mail on Sunday, saying that the event was a private one.

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Tags: politics

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29 comments

Sun, 2011-02-13 14:53 — Lou (not verified)

Are we surprised, the privileged few promoting more of the privileged few?

It is obscene. The party that condemns a generation of youth to poverty, struggle and lack of opportunity to better themselves through their policies giving a leg up to anyone rich enough to buy it.

We're all in this together is more Big Society BS.

Mon, 2011-02-14 17:26 — Son_of_Attlee

This should be a huge scandal really. Hope Milliband gives him hell over it on Wednesday!!!

Sun, 2011-02-13 15:36 — voleur_dame (not verified)

Disgusting.

But we are all too weak and spineless in England to ever have a Revolution, so we deserve to be treated like this :(

Sun, 2011-02-13 15:42 — Benedict (not verified)

Looking at The MoS article, the internships were only for a week or two weeks. They're hardly likely to lead to a job. If the parents want to pay £2,750 for the privilege of their daughter being an unpaid shop assistant at Harvey Nicks, then it suggests that they have more money than sense.

Tue, 2011-02-15 15:55 — Alex, London (not verified)

And still, having read so much in the last few days, I have no clues as what to what is the Big Society and who is part of it. Different approach then – let’s start from who is not part of it.

We know members of the Tory party are not part of it. Last week, at their Black and White Party, there was an auction for five trainee internships in large City banks. They were bought by wealthy Conservative supporters for their children. The £14,000 raised went to funding the Tory party.

Read the full article here:
http://sturdyblog.wordpress.com

Sun, 2011-02-13 15:54 — Daniele1

voleur_dame (ladies thief?)
Couldn't agree more.
If British people are stupid enough to buy this BS, they deserve everything they get.
The contempt of the ruling class for the people in this country is infinite, rightly so it seems since no matter how much you mock them and squeeze them, there is no reaction.
If I was them I wouldn't be worrying about a revolution. It will never happen.They can sleep easy in their feathered bed.
The cuts are being accepted as unavoidable with the "everybody has to do their bit" stance from ordinary people who cannot even think that maybe, just maybe, they are being conned and meanwhile, the rich are getting richer and the upper classes are roaring with laughter.
What a depressing time!

Sun, 2011-02-13 17:03 — zsremrxc

They have much to fear and suffer as the owner actually hates them. !

"Let them all be burned and damned to damned hell".

Sun, 2011-02-13 17:08 — swatantra

Looks like the old boys network and the school tie can still pull strings in an increasingly unequal world. If you have the dosh you can get anywhere.

Wed, 2011-02-16 17:02 — Marcus (not verified)

Labour did this (unofficially) also so it is a bit rich for the left to be claiming the moral high ground on anything, especially this issue.

They all have snouts. They all use them. Its wrong.

Sun, 2011-02-13 17:22 — Sam (not verified)

Why is this a big deal? It's just imaginative fund raising.

I don't see how this is an issue in the slightest, but then again I'm not a class sectarian.

Sun, 2011-02-13 18:01 — Daniele1

Sam:
Not a "class sectarian"??What's the big deal?
Either you are one of them or you are a complete idiot.

Sun, 2011-02-13 18:03 — Daniele1

BTW Sam, thanks for proving my point.

Sun, 2011-02-13 18:41 — Hugh Markey (not verified)

My understanding is that David Cameron and Nick Clegg had impeccable referees.
Lord Carrington put in a word for NICK and an anonymous individual at Buck House spoke up for Dave. No doubt the usual channels. Grow up and get with it, chaps. This IS the Big Society. By the by, seen Harry Potter lately? Perfect model for a 'free' school at taxpayers' expense. Jolly Good Find - that little Scotch chappie.!

Foot-stool

Sun, 2011-02-13 18:50 — Dave Higgings (not verified)

Crooked bastards.

Sun, 2011-02-13 19:05 — Livers (not verified)

Is that legal? I mean we *do* have employment laws last time I checked?

If it *is* legal, then it shouldn't be.

Scandalous.

Sun, 2011-02-13 19:20 — Sam (not verified)

Look, Danielle, the Labour party gets money from rich people.

This might seem a bit crass but it's hardly a big deal.

Why should we in Britain have a revolution when people in Tunisia and Egypt have justed revolted against oppressive regimes to try to get what we have in this country?

I have the strange feeling that you're someone who thinks that Hugo Chavez is a good guy, amirite?

Sun, 2011-02-13 19:25 — georgi297 (not verified)

This has been happening for years and still nothing has changed in the political elite. I myself come from a working class family and I am proud to have gotten into a decent university to study Politics. I have applied to several internships and even asked my local MP, a Conservative, for any advice and have received no reply as of yet. It is disgraceful that the government, apparently, see no problem with this activity. It's a barrier faced by thousands of people which the Tories will manage to brush off with a press release.

Sun, 2011-02-13 19:41 — Morky (not verified)

As the weeks go by this government just does more and more to illustrate it really has no idea. We are certainly NOT all in it together. I would be amazed if they manage to get through until 2015.

Sun, 2011-02-13 19:50 — ang (not verified)

You let the ruling classes back in and this is what you get. Be sure to vote Labour next time.

Sun, 2011-02-13 20:37 — Sam (not verified)

Ang - in what way are Labour not a ruling class?

Indeed, Labour are more of a ruling class than the Tories given that the coalition is decentralizing the state and giving more power to the individual.

Sun, 2011-02-13 21:02 — ang (not verified)

@Sam.
Ruling classes tend to be looked at in a negative light because they are often viewed as having little respect or care about the rights of the inferior classes. Wikipedia.
The coalition, or more accurately, Tory-led govt, is attempting the biggest con trick this country has
ever seen. GIVING MORE POWER TO THE PEOPLE, is actually passing the buck, and govt has to do, or be responsible for, fuck all.
Then what are we paying ministers and MP's to do?

Mon, 2011-02-14 22:12 — Reginald-Fah-fah

'The Mail on Sunday reports that lots at the £400-a-head party included five internships at City firms, which raised £14,000 in all.'

Fantastic fund raising by the Conservative Party! Well done Folks!

Sun, 2011-02-20 16:06 — Denise Channing (not verified)

So children of the rich can buy future jobs, while the rest of us dealwith the austerity measures.

Big Society = bringing back a serf class. Who do you think you're fooling Cameron?

When people starve, things get ugly. Look to Egypt. Making us all unemployed, except the privileged few, is going to backfire.

Mon, 2011-02-14 11:17 — Gerry Tierney (not verified)

Sam - buying into tory bullshit since 2011.

Also, it could very well be illegal - http://www.legislation.gov.uk/ukpga/1973/35/section/6

Tue, 2011-02-15 02:31 — Anuj Gupta (not verified)

Reggie, you are right about the Labour Party, so i'm going join EDL or UKIP. Gordon Brown was bad but the shadow cabinet full of sad-cases going nowhere.

I think you are right about your favourite man David Cameron and history will prove you right. Cameron and Clegg need stopping but the Labour party can't do the job.

Please stop posting comments about how great David Cameron is as PM. You are rubbing my nose in it!

Tue, 2011-02-15 10:04 — Reginald-Fah-fah

I disagree with 'rich Tories buying privilege'! It's a big come down for most Tories, and somewhat explains why the party only raised £14,000. That nothing for the Tory Party!

Most Tories would agree with me, Tories wouldn't want their children working on City internships for free and paying for the privilege!

Prehaps, Tories with children that are 'going off the rails' would bid for a City internship!

The other Tories would have a good laugh!

Mon, 2011-02-14 13:52 — Periratus (not verified)

I once thought the Tories couldn't possibly do anything to make themselves even more disgusting and contemptible, but in fact they manage it every day. No wonder I dream of the sweet rumble of tumbril wheels....

Wed, 2011-02-16 03:29 — Reginald-Fah-fah

Thank for the link Alex!

Putting aside the Big Society Bank and other Big Society funding which is still being developed and local councils are causing 'teething problems'!

In my opinion, the Big Society is a 'school of thought' and is open to everybody that will knit together in time. The Big Society is different for everyone and that why it's hard to put into clear words!

My basics rules to my Big Bociety:

1. Start by doing little things that will make you feel good!

For example, this week I helped an unemployed man buy a tenancy agreement to flat and assisting with family law.

I also got my neighbours together and cleared litter and fly tipped rubbish from outside our homes. This would have cost the council money but we all cleared it up! I'm so proud of our road now.

2. Be a part of an non-profitable organisation: For example, I give a few hours a week to raising money for a small charity. (Hospital based)

I also give about 20% of my earnings to charity.

This is where I have started with my Big Society and I will grow with it!

I stand behind Prime Minister David Cameron and feel the Big Society will build a better future for us all and the next generations!

Wed, 2011-02-16 03:54 — Reginald-Fah-fah

Most Tories are part of the Big Society but they just don't talk about it! Everyone hears about Cuts, how evil the Tories are, and other nonsense that is Over reported and stated!

Not everyone but a lot of Tories give a lot to charity and general approach is to give to fellow human beings.

Yes, UK PLC housekeeping is being tightened but NO need for OVER-STATEMENTS! Thank you Mr Clark! The idea is for charities and human kindness to fill the gap!

My personal opinion is that everyone is frightened by the cuts and the speed of change! Stay calm and carry on as normal and everything will full into place!