Hedge Fund Manager Taylor Is U.K. Opposition Labour Party DonorAlastair Marsh
Nevsky Capital LLP’s Martin Taylor has donated 600,000 pounds ($900,000) to the U.K. opposition Labour Party over the past two years.
Taylor said in a statement late Friday he supports Labour, which is led by Ed Miliband, because it will reverse tax reductions for the wealthiest and abolish the so-called “bedroom tax,” where people see their welfare payments docked if they have unoccupied bedrooms.
“It is commonly believed that everyone in the financial sector supports the Conservative Party, in a quest to pay ever lower levels of tax,” Taylor said. “I believe very strongly that everyone should contribute to society and that those who are lucky enough to earn a lot should contribute more than others.”
A “born and bred Londoner,” Taylor described himself in the statement as “a hedge fund manager” who’s “proud to support the Labour Party.”
He said the donations were personal and unconnected to Nevsky Capital, which he said has no political affiliation.
Hedge-fund managers have donated 10 million pounds to David Cameron’s ruling Conservative Party since the last U.K. election in 2010, Labour said in February. That month Miliband called the Conservatives the “party of Mayfair hedge funds and Monaco tax avoiders.”