More like this

Business

Arrow

Policy

Amstrad founder Lord Sugar quits 'anti-enterprise' Labour party

Self-proclaimed 'loyal person' threw in towel straight after Tory election victory

Lord Sugar has declared that he is quitting the Labour Party thanks to its "anti-business" policies.

In a statement released on Twitter, the Sugar Baron stated that he intended to remain in the House of Lords "representing the interests of business and enterprise in the UK."

The hairy walnut was, however, calling an end to his 18-year association with Labour after becoming "disillusioned" with the party's "negative business policies and general anti-enterprise concepts" which he believes they were going to implement if they were elected.

The Hackney-born billionaire said he had "expressed this to the most senior figures in the party several times" but explained that he had kept schtum before the election because he is "a loyal person" who didn't want to adversely affect the party's election chances.

A Labour party spokesman told El Reg: "We would like to thank Alan for his years of generous support and for his service in the Lords, and we wish him well as a cross-bench peer." ®

Sponsored: The world has changed, has your IAM strategy?