Tories under fire for selling City places to raise party cash

The Tories have come under fire after auctioning internships at top City firms to raise funds for the party.

The work experience placements were among the lots sold off at the Conservatives’ Black and White Party last week which was attended by Prime Minister David Cameron.

Labour shadow cabinet minister Caroline Flint said the auction showed the “full extent of privilege that still is the Tory DNA”.

Five prestigious internships were reportedly auctioned off for £14,000 at the party, which cost at least £400 to attend.

A fortnight at CMC Markets went for £3,000, a week at hedge fund Caxton Associates raised £2,500, the winning bid for a placement with PR firm Bell Pottinger was £2,000, and £3,500 secured a week at Arbuthnot Latham private bank.

Former Tory treasurer Michael Spencer offered a week’s work experience at his brokerage company ICAP, which fetched £3,000.

In a message on Twitter, Ms Flint said the auction “exposes full extent of privilege that still is the Tory DNA. Internships bought by the bank of rich mums and dads at PM fund-raiser.”

A Conservative Party spokesman said: “It was a private event and we will not be commenting on it.”