London - A leading Conservative and ally of party leader Mr William Hague has announced he is defecting to the Labour party.
Millionaire businessman, Mr Ivan Massow (32), was on the list of Conservative candidates for the next election but has turned his back on the Tories, claiming they "cannot be trusted to govern Britain".
In an interview with the London Independent newspaper he described his decision as something he had thought "long and hard" about, finally realising he had lost trust in Mr William Hague's leadership.
Last year Mr Massow, who is chairman of the Institute for Contemporary Arts, was mentioned as a possible Tory party candidate for mayor of London, but he eventually threw his support behind Mr Steven Norris.
In his resignation statement last night he said he felt there was a lack of tolerance and inclusivity in the Tory party and as a gay man he could not continue to be a member.
"Under William the sad truth is that the Tories have become less compassionate, more intolerant and frankly just plain nasty."