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Talks with tycoon were a mistake, admits George Osborne
Nicholas Cecil, Chief Political Correspondent27 Oct 2008
GEORGE OSBORNE today admitted making a "mistake" over his links to Russian billionaire Oleg Deripaska.
In an attempt to limit the damage from "yachtgate", the shadow chancellor also revealed that he will no longer get involved in talks with potential donors.
Mr Osborne took to the airwaves for the first time in four days amid fears among Tories that the affair was severely hindering his ability to attack the Government on the economic crisis.
His reputation has been battered by reports, which he has not denied, that he and Tory party fundraiser Andrew Feldman discussed a £50,000 donation from Mr Deripaska.
The allegation was made by hedge fund manager Nat Rothschild, a friend of Mr Osborne's who has business links to the Russian.
Mr Osborne has denied "soliciting" or receiving a donation from Mr Deripaska, whose £80 million yacht he visited off Corfu this summer.
However, he told Radio 4's World At One: "I think I did make a mistake. In politics, it's not just what you say or what you do, it's how things look. And if I'm absolutely honest, this did not look very good and I regret that."
The Tories will hope that Mr Osborne's admission clears the decks for an all-out attack on Gordon Brown's handling of the economy.
Reader views (4)
It was a mistake! Get over it! As mistakes go this does seem rather trivial compared to the 'mistakes' Gordon Brown has made with our country...
- Clare, London, 27/10/2008 20:16
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In this episode neither Osborne Rothschild or Mandelson comes out very well, but it also raises a very serious question about the Prime Minister's judgement. Eagre to achieve a spectacular coup he appoints old Peter Meddlesome, whose history alone should have been enough to warn him to proceed with caution. Obviously he didn't, nor did he carry out any checks becasue a quick phone call to MI5 would have set alarm bells ringing about Deripaska's dubious associates etc.Whether Prudence Brown will be sufficiently embarrased to give Meddlesome the push waits to be seen
- Jeremiah, London, 27/10/2008 18:26
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I thought that the whole point of Gideon's defence was that he did not discuss a donation with the Russian. Now he seems to be admitting that he did and that it was a mistake. Camoron was right, he is a prat.
- Tommy Cockles, Acton, 27/10/2008 16:33
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Here we are in the middle of a huge financial black hole and acres of words are being expended on the antics of a few politicians, hedge fundies and Russian johnnies poncing about in the Med. It beggars belief.
- John Problem, Hackney Wick, London, UK, 27/10/2008 15:39
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