A top Conservative Party funder is revealed today as the man behind one of Britain’s biggest high-cost lenders. Financier Henry Angest – a friend of the Camerons and a former Tory Treasurer – gave the Conservatives a £5m overdraft facility shortly before the last General Election at an attractive interest rate of just 3.5 per cent. The high-cost credit company Mr Angest controls, Everyday Loans, charges members of the public interest at an average 74.8 per cent APR. The news – uncovered following analysis of accounts by the Bureau of Investigative Journalism – will prove awkward for the Conservatives, as Mr Angest becomes the second high-profile Tory donor profiting from the growing high-cost credit industry. The Conservative donor and government adviser Adrian Beecroft has a major stake in Wonga, Britain’s best-known payday lender, which charges borrowers more than 4,000 per cent APR.
Posted on: Thu, 27 Jun 2013 09:42:53 +0000
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