Labour has called plans for a new centrist political party “a daft waste of time” and a project “of the rich, by the rich”.
Shadow Chancellor John McDonnell was among many to pour scorn on reported plans for a new political party said to have been under secret development for more than a year.
With access of up to £50 million in funding, the movement comprises a network of entrepreneurs, philanthropists and donors keen to “break the Westminster mould”, according to The Observer.
The movement is said to be spearheaded by a former Labour donor and founded by multi-millionaire philanthropist and founder of LoveFilm, Simon Franks. It’s believed to have had full-time members of staff for a year.
However the plans for a centrist challenger party were dismissed by the shadow chancellor and two of his frontbench colleagues.