Chairman of Amshold Group wanted to keep his intentions quiet during election campaign

Lord Sugar resigns from Labour party due to ‘negative business policies’

Computer industry veteran and star of TV’s The Apprentice Lord Sugar has quit Labour due to its policies around business.

Sugar announced his resignation on Twitter today.

He explained: "In the past year I found myself losing confidence in the party due to their negative business policies and general anti-enterprise concepts they were considering if they were elected. I expressed this to the most senior figures in the party several times.

"I signed on to New Labour in 1997 but more recently, particularly in relation to business, I sensed a policy shift moving back towards what Old Labour stood for.

"By the start of this year I had made my decision to resign from the party whatever the outcome of the general election."

Lord Sugar added that he had held back from making public comments during the election campaign (and turned down hundreds of journalist requests) so to remain fair and not ‘stick the boot’ into Labour.

He will continue in the House of Lords going forwards, representing the interests of business and enterprise in the UK. 

You can see the full tweet and open letter of resignation below: 

Lord Sugar originally founded Amstrad back in 1968. In late 2013 he was accused of being paid to promote a Toshiba laptop on Twitter in a bizarre series of seemingly promotional tweets.

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