One of the Tory party’s largest donors has attacked the package of tax rises being lined up this week by Rishi Sunak’s government as “anti-Conservative” and refused to commit to donating to the party next year. CMC Markets founder and chief executive Peter Cruddas described himself as a “big Boris backer” when questioned about his support for the current administration led by Sunak. Chancellor Jeremy Hunt is expected on Thursday to unveil a wide-ranging set of tax rises, including taking corporation tax from 19 per cent to 25 per cent, freezing income tax thresholds and targeting dividend tax relief.

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