By Christian Smith

The future of a centrist movement within the Labour Party is bleak after a major backer, Lord Sainsbury announced that he is no longer going to provide financial backing to party political causes. 

Richard Angell, the Director of Progress, which campaigned against the leadership of Jeremy Corbyn sent an email to members this week, in a bid to raise money to cover the vacuum created as a result of Lord Sainsbury’s decision.

“I believe that you were contacted by one of my volunteers about the news that David Sainsbury will end his funding for party political causes, Progress included, at the end of this year.

“They were asking if you would consider rejoining Progress, moving to a monthly direct debit and then giving what you can afford each month. We were suggesting £10/month.”

Progress needs to find £180,000 to stay afloat. Mr Angell said, “there is a real possibility that we close,” if the money is not found.

Meanwhile, the Labour party has had a resurgence of funding from the public since Mr Corbyn became the leader.

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In 2016, the party received £51,153,000, including funding of nearly £8m from the public.