Tycoon donates £50,000 to Labour

Labour has accepted a £50,000 donation from a motor racing tycoon who advises the Government on investment in the industry.

The gift was disclosed by the Electoral Commission, which publishes weekly data on donations to the political parties during the election campaign.

It comes from David Richards, chairman of Prodrive and former head of a Formula One team owned by British American Tobacco. It is the biggest cash donation Labour has received so far during the campaign.

Mr Richards is a member of the Government's motorsport advisory board, which discusses how ministers should invest in the industry. He was awarded a CBE in the New Year honours list. There is no suggestion it is an attempt to influence Labour policy. Bernie Ecclestone, in 1997, made a ?1million donation to Labour five months before the general election that year.