John Caudwell, a billionaire who generously supported the Conservatives with £500,000 before the last general election, has announced to the BBC that he will cast his

vote for Labour for the first time next month.

Caudwell, the founder of Phones 4U, expressed dissatisfaction with Rishi Sunak, branding him as an "absolute dud," while praising Labour leader Sir Keir Starmer for resonating deeply with him on various issues.

Despite his reservations about some of Labour's policies, such as their plan to charge VAT on private school fees, Caudwell emphasized that Labour's commitment to GDP growth and environmental issues convinced him of their suitability for Britain's future.

While Caudwell clarified that he would not be financially supporting Labour in this election, he commended Starmer's efforts to distance the party from what he described as "extreme socialist policies," advocating instead for policies that promote wealth creation in Britain.

Reflecting on his shift in political allegiance, Caudwell, whose net worth is estimated at £1.537 billion according to the Sunday Times Rich List, admitted that his perception of Labour had historically been negative. However, after discussions with Sir Keir and former Prime Minister Tony Blair, he became comfortable with the idea of supporting Labour.

Caudwell also criticized the Conservative government's handling of the COVID-19 pandemic, particularly targeting their economic decisions under Sunak's leadership.

In response to Caudwell's endorsement, Sir Keir Starmer expressed delight, welcoming the support from someone with a distinguished business background and emphasizing the changes he has brought to the Labour Party leadership. Photo by TerriPaddockJC, Wikimedia commons.