Billionaire Labour backer John Caudwell ‘nervous’ about Starmer

John Caudwell said Labour had been poor at telling the right story and the winter fuel saga and the welfare rebellion had been unnerving. Photograph: Graeme Robertson/The Guardian

Labour’s most high-profile billionaire backer, who switched allegiance from the Conservatives, has said he is “increasingly nervous” about the government’s direction and is in “despair of politicians”.

John Caudwell, the Phones 4u founder, said Labour’s winter fuel payments cut was a “fiasco” and ministers were not doing nearly enough to attract investment into the UK.