MOSCOW, October 1 (RIA Novosti) - Multi-millionaire, Arron Banks, is shifting his Conservative party support to the UK Independence party (UKIP), and will present 100,000 GBP (approximately $161,866) to the party's leader, Nigel Farage, on Wednesday.
"I am delighted to welcome Arron's support to UKIP. His generosity will go a long way in our campaign. It shows a real development of UKIP that we are now attracting serious financial backers that will help secure our place in the political landscape. Arron recognizes that it is the European Union that is holding Britain and her businesses back," Farage was quoted as saying on UKIP's official website.
Banks, who previously funded the Conservative party with 300,000 GBP, believes UKIP mirrors his beliefs regarding the UK's unpredictable ties with the European Union (EU). Banks is scheduled to present the 100,000 GBP check to UKIP at 17:00 local time (16:00 GMT) today.
"Being a member of the EU is like having a first class ticket on the Titanic. Economically, remaining in the EU is unsustainable. We are being dragged down to the lowest common denominator of financial growth when we should be looking to trade worldwide and should be basing our future prosperity on a long term global outlook," Banks was quoted as saying by the UKIP website.
"The Conservative party try to sell us the myth that EU reform is achievable when frankly all Cameron can offer is tinkering around the edges. He is not even able to bring himself to say that he would support UK exit if his supposed reforms do not work," Banks added.
According to the website, Banks' support is part of an ongoing trend of councilors, MPs, and backers changing over to UKIP from other parties.
UKIP is a patriotic party striving for British independence from the EU and government interference. The party supports free trade, lower taxes, personal freedom and responsibility. The party's organization is divided into twelve regions in the United Kingdom and boasts over 37,000 members.