Former Tory donor named as Ukip’s new treasurer

The UK Independence Party celebrated a major coup today by recruiting multi-millionaire former Tory donor Stuart Wheeler to be party treasurer.

The 75-year-old spread betting tycoon, who once gave £5 million to the Conservatives, will spearhead fundraising for the Eurosceptic party ahead of the next European Parliament elections in 2014.

Although Mr Wheeler was expelled from the Tories in 2009 for endorsing Ukip, his full-scale defection will still come as a blow because of his network of contacts.

And it comes as David Cameron braces himself for a backbench rebellion over the EU Bill in the Commons tomorrow.

Several Tory MPs are upset that plans to put future treaty changes to a UK referendum do not go far enough, and veteran Eurosceptic Bill Cash has tabled a series of amendments.

Mr Wheeler, who fought the 2010 election as head of the Trust Party, worked as a barrister before setting up IG Index.

Ukip leader Nigel Farage hailed his newest recruit, saying: "I'm delighted that Stuart Wheeler has agreed to become our treasurer. He gives the party credibility and he will help us in our single biggest task which is to raise sufficient money to get our message out to the great British public.

"Ukip's views and opinions are now mainstream - money at the moment is our only big barrier."

Mr Wheeler said: "I am very honoured to have been appointed treasurer. I believe Ukip's role in British politics is vital and I will do that I can to help."

Ukip polled 3.1 per cent of the vote in last year's general election, leaving them a distant fourth place.

The party secured 12 of the UK's 72 MEPs at the last European elections in 2009.