Top Tory fundraiser resigns in wake of Liz Truss victory and gives new leader her first problem

The co-chairman of the Conservatives, who raised tens of millions of pounds for the party’s general election campaign, resigned hours after Liz Truss won.

Ben Elliot, a close ally of Boris Johnson, announced he was stepping down from the role – calling it ‘a huge honour and privilege’ – leaving Miss Truss with the headache of trying to find a powerful replacement.

Mr Elliot spearheaded the drive to amass a £56millon war chest in the run-up to the 2019 election, of which £23million was raised in the four weeks before polling day.

Controversially, he used donor clubs to generate funds which attracted allegations of ‘cash-for-access’ techniques.

But it also allowed the party to comprehensively outgun Labour in the income stakes.

One of Mr Elliot’s friends said ‘Ben’s own initiative and contacts’ had been responsible for more than a third of donor income.

They added: ‘Ben’s departure is a huge loss to the party. Fundraising is more important than ever in order to fund the party’s campaigns.’

Mr Elliot said: ‘Serving as co-chairman of the Conservative Party has been a huge honour and privilege.

‘I would like to thank my various co-chairmen, colleagues on the Party Board, the National Convention, the excellent senior staff at CCHQ and of course all our professional staff, members and volunteers across the country.

‘I would like to thank Boris Johnson for appointing me, and wish Liz Truss every success in leading our great country, particularly given the challenges of the winter ahead.’