Multi-millionaire and long term Conservative backer, Arron Banks says he's switching support to UKIP.
Arron Banks, who has supported the Conservative party to the tune of £300,000 will today present a cheque to UKIP Leader Nigel Farage for £100,000.
Mr Banks says he does not believe David Cameron will reform the EU and will not facilitate the UK's exit
"I've supported the Conservatives for a number of years but have come to the realisation that only UKIP supports my views. Being a member of the EU is like having a first class ticket on the Titanic. Economically, remaining in the EU is unsustainable. We are being dragged down to the lowest common denominator of financial growth when we should be looking to trade worldwide and should be basing our future prosperity on a long term global outlook. The Conservative party try to sell us the myth that EU reform is achievable when frankly all Cameron can offer is tinkering around the edges. He is not even able to bring himself to say that he would support UK exit if his supposed reforms do not work."
Mr Banks will present Nigel Farage with a cheque for £100,000 at 17:00.
UKIP Leader Nigel Farage: "I am delighted to welcome Arron's support to UKIP. His generosity will go a long way in our campaign. It shows a real development of UKIP that we are now attracting serious financial backers that will help secure our place in the political landscape. Arron recognises that it is the European Union that is holding Britain and her businesses back.
"The other parties are losing Councillors, MPs and backers to UKIP, not only voters, and they are all playing their part in changing the course of politics in the UK for good. Our people's army is really starting to grow".