Labour’s hedge fund backer could profit from private deals in NHS
A MULTI- MILLIONAIRE hedge fund boss who handed £600,000 to the Labour Party stands to cash in from the privatisation of NHS services.
Martin Taylor is the party’s fourth largest donor over the past three years despite Ed Miliband, who has had at least one private meeting with him, attacking the Conservatives for being ‘ the party of Mayfair hedge funds’.
It also emerged yesterday that Mr Taylor’s company, Nevsky Capital, which is based in Mayfair, managed a fund with a £10million stake in United Health, a US private health care giant.
Its UK arm has run a number of GP surgeries and is bidding for other NHS work, including a controversial £1.2billion contract for cancer and end-of-life care in Staffordshire and Stoke-on-Trent.
The deal is opposed by Andy Burnham, Labour’s shadow health secretary, who said all private contracts should be halted until after the General Election.
The Tories accused Mr Miliband of being a ‘hypocrite’ for taking the donations after Labour’s criticism of NHS ‘privatisation’ under the Coalition.
MP Henry Smith said of the Labour leader: ‘ He spread pathetic smears about the Government, but at the same time took buckets of cash from someone who made millions from the health privatisations that Labour started.’
Mr Taylor told the Sunday Times it might seem ‘a bit odd’ for a hedge fund manager to support Labour but he believed that ‘everyone should contribute to society and that those who are lucky enough to earn a lot should contribute more’.
A Labour spokesman said yesterday: ‘We are grateful to people from all walks of life who support Labour and our better plan.’
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