Blow to David Cameron as new Tory treasurer David Rowland quits

Joe Murphy, Political Editor
19 Aug 2010

David Cameron suffered a blow when the Conservative Party's new treasurer quit suddenly.

Property tycoon David Rowland, 65, withdrew before even taking up the post, two months after his appointment was announced.

Mr Rowland, who gave the party £3 million before the general election, was criticised for being as former tax exile.

A statement from Tory HQ said he backed out “due to the expansion of his global business interests” and the businessman himself insisted he was still a supporter of Mr Cameron.

However, it is embarrassing to the Tories to lose such a high profile figure from its crucial fund-raising operation.

Mr Rowland is a legendary figure in the City who rose from poverty to amass an estimated fortune of £730million, reckoned to the 25th richest Briton.

He said: “I was honoured to be asked to become Treasurer. Unfortunately my developing business interests mean I will not have the time to give that role the focus and attention it deserves.

“I remain deeply committed to the future success of the Conservative Party. David Cameron is a great leader of the Party and of our country and I will continue to actively support him and the Party in the years ahead.”

At present, treasurer duties are shred between businessmen Stanley Fink and Michael Spencer. The latter is due to step down in October and now Mr Fink will soldier on alone.

A Conservative spokesman said: “We understand Mr Rowland's reasons for not taking up the role and remain grateful for his support.”