Labour donor Peter Hearn gets behind Dan Jarvis... months after investing in Yvette Cooper for leader

Written by @singersz on 18 February 2016 in Diary
Diary
  

A wealthy businessman who donated almost £100,000 to unsuccessful campaigns for the Labour leadership and deputy leadership has turned his attention to the highly-rated Barnsley MP Dan Jarvis.

Peter Hearn last year provided funding to two candidates who he might have hoped would stop Jeremy Corbyn and Tom Watson in their tracks, but his investments failed to reap rewards.

Now Hearn has now given £12,500 to the man who many disgruntled Labour MPs believe is best-placed to take over from Jeremy Corbyn before 2020.

The new donation was registered by Jarvis on 20 January, the Register of Memebers Interests shows. The MP’s office would not provide an official comment on what the cash was being used for, but it is understood to be the first instalment of a sum of money to pay for Jarvis to take on two political advisers to help him develop a strategy. Or as one pro-Jarvis Labour insider put it:

"This is about getting long returns. It’s about the intellectual renewal of the party."

Hearn is behind PSD Group, an executive recruitment firm specialising in high-level jobs in banking, finance, and other sectors. He could not be reached for comment.

Last summer he donated £75,000 to the Yvette Cooper campaign for the leadership and £20,000 to support Rushanara Ali’s doomed deputy leadership bid. Somewhat embarrassingly, Ali had to return £7,946 of the businessman’s cash just a few weeks later when she withdrew from the race.

Will it be third time lucky for Hearn?

 

 

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