Cash-strapped Lib Dems target Asian tycoons
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Asian business leaders are being targeted by the Liberal Democrats, who are desperate to bolster their finances for the next general election.
Accounts seen by the Independent reveal that the party is pounds 150,000 in the red. A report by Tim Clement-Jones, chair of the party's federal finance and administration committee, intended for delegates to the annual conference in 10 days time, says that "political priorities, particularly in relation to our preparatory work for the general election are stretching our fund- raising capacity to the limit".
The Independent has learned that the party has made a top priority of securing donations from wealthy members of the Asian community. A push that began with the gift of pounds 50,000 of computers to the Cowley Street headquarters from the subsequently disgraced tycoon Nazmu Virani has been widened.
Among those leading the drive for funds is Ramesh Dewan, one of the wealthiest Asians in Britain. A member of the party's federal executive, Mr Dewan owns a property and publishing empire, based in west London. In 1990 Management Today magazine reckoned his wealth, centred on his Transbrittania Properties Group, to be pounds 20m, a figure he disputes.
Mr Dewan, who is one of the personal guarantors of the party's overdraft, said last night that he hoped "several hundred" Asian business people would provide five-figure donations for the next election.
Party officials say the signs are encouraging. "The motivation for the majority of Asians who are coming to us is that they are concerned about the Asian community being involved in the process of deciding how the country is run. They see being a member of a political party and making donations as being part of society," said general secretary, Graham Elson. He believes that by the election "a large number of individuals from the ethnic community will have made contributions".
Another senior party figure said Asian businessmen would not donate to the Tories because of what they saw as a racist fringe, and did not regard Labour as the party for business.
Mr Dewan said: "Asians are leaving Labour and the Tories for the Liberal Democrats in large numbers. Historically 70 per cent of the ethnic minorities have favoured Labour, yet Labour has not achieved very much for them." Asians, said Mr Dewan, were fed up with the inability of Labour local authorities to deal with racial attacks. Education was also pushing them towards the Liberal Democrats, he said.
A large Asian swing to the Liberal Democrats at the recent Littleborough and Saddleworth by-election is being hailed as proof of the trend. Mr Dewan said: "Asians recognised we are not hot-air merchants."
Liberal finances, page 4
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