Iain Duncan Smith wins funding contest

Iain Duncan Smith not only beat Kenneth Clarke to the leadership of the Conservative Party, but also beat him in financial support. His campaign raised £84,000 against Clarke's £71,000, according to the election watchdog, the Electoral Commission.

Duncan Smith's biggest backer was the hair products company John Frieda Products, which gave £20,000. The construction equipment manufacturer JCB Research gave £10,000.

Clarke's biggest backer was Nottinghamshire businessman Nat Puri with £25,000. Before the 1997 general election Puri was a donor to the Labour Party. A donation of £10,000 came from Peter Orton, chief executive of HIT Entertainment, the children's TV company behind Bob the Builder. Clarke also got £7,500 from Saunders and Tutton, a firm of brokers that forms part of a firm chaired by Clarke himself.