Unhappy with Corbyn, Labour's 'money men' channel funds in new directions
Billionaire Peter Coates has stopped giving money to Britain's opposition Labour Party, seeing little prospect of election victory under left-wing leader Jeremy Corbyn.
One of a handful of "money men" credited with using their cash to help propel Labour under Tony Blair to power in 1997 and keep it there, he has instead made direct personal donations to fund the work of a local Labour parliamentarian, whose centrist views are more aligned to his own.
This is part of a pattern which has seen Labour's private donors channel funds away from the party apparatus and towards other groups in an attempt to revitalise the 'center-left.'
