Billionaire supermarket tycoon dumps Progress

What a shame! The biggest backer of Progress has revealed he will bring to an end his funding of the Blairite pressure group. Lord Sainsbury says he's going to focus instead on his charitable causes. Lord Sainsbury of Turville, who has bank-rolled Progress for 21 years, says his funding will stop at the end of 2017.

In response, Progress will need to shift towards a member-led funding model. Already they are urging supporters to increase their monthly subscriptions. In particular, they are appealing for donations to stop the “McDonnell amendment” on the leadership rules. Richard Angell, Progress director tells us: “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.”

Lord Sainsbury said: “Progress has done a great job over the years making the case for an outward looking, modern political party, provided Labour with an election winning path at every opportunity and brought on new centre-left people. However it’s time for me to hand the baton on to a new generation of donors who can help take that vital work forward.”

Labour Briefing says good riddance. We're short of cash but won't be accepting bribes from billionaire anti-socialist tycoons.