A former Labour donor has revealed he is “fearful” about what taxes Rachel Reeves might look to hike in her upcoming Budget.

Sacha Lord, who served as an adviser to Greater Manchester Mayor Andy Burnham for eight years, made the stunning admission during an appearance at Conservative Home’s fringe event on how to protect London’s nightlife.

The 53-year-old Parklife festival co-founder said: “I feel like I had the wool pulled over my eyes.

“The manifesto launch was in Manchester last year, the Labour Party manifesto launch, and the Chancellor, Rachel Reeves, stood there and told the room that she was the Chancellor of business, the Chancellor of growth.

“And it is simply not the case. We have had nothing for [the] night-time economy, we have had nothing for hospitality. Independents are closing on a daily basis, we are losing a pub a week.”

Mr Lord, who jokingly told Tory members to “f**k off” when they booed him for being a former Labour donor, added: “The final nail in the coffin was the rise in National Insurance and I’m so fearful of what is about the come on November 26.”

The Altrincham-born entrepreneur appears to have been referring to any tax rises announced in Ms Reeves’s upcoming Budget.

The Chancellor raised £40billion following her Budget last year, with her hike on National Insurance Contributions for employers increasing revenues by £25billion.

Ms Reeves is expected to raid the pockets of hardworking Britons yet again, with blackhole estimates ranging from £30billion to £41billion.

Speaking at the Labour Party Conference last week, the Chancellor said: “We will face further tests, with choices to come, made all the harder by harsh global headwinds and long-term damage to the economy, which is becoming ever clearer.”

However, Ms Reeves’s Budget is unlikely to win Mr Lord back around after the 53-year-old let his Labour Party membership expire earlier this year.

Mr Lord, who admitted he had given the Tories plenty of “flak” in recent years, instead suggested he was willing to work with MPs from all parties to the benefit of the night-time economy.

He also suggested a new Labour leader could persuade him to return to the Labour Party, just days after he yet again expressed warm words for Mr Burnham.

The Greater Manchester Mayor was said to have been eyeing up a return to Westminster in a bid to challenge Sir Keir Starmer for No10.

However, over the course of just 24 hours, Mr Burnham rowed back on his attacks as allies warned he had “overplayed his hand”.

Conservative Home’s fringe event primarily focused on London’s flailing night-time economy.

The Night Times Industries Association revealed in August that the capital has lost almost 100 late-night clubs and bars that stay open beyond midnight since the pandemic.

More than 3,000 pubs, bars, and nightclubs have also closed across London over the same period.

Recent high-profile closures include The Loop Bar in Mayfair, Printworks in Rotherhithe, Tiger Tiger on Haymarket, and Pryzm in Kingston, which shut this summer.

Berlin and Amsterdam now boast about having a much more vibrant nightlife compared to London.

Emma Best, deputy leader of the Conservative Party in the London Assembly, also suggested that London was no longer a global city when it comes to nightlife.

Ms Best said: “We’ve gone from competing with global cities to competing with Manchester.

“With all the love to Manchester, I don’t want London to compete with Manchester and Liverpool. I want it to be a global centre of the night-time economy and having a great time.”

Meanwhile, Westminster Councillor Paul Swaddle blamed Labour for the rising costs adversely impacting businesses.

The Tory Opposition Leader said: “Labour just don’t get it. They just treat it as businesses that can be taxed and taxed to death. I’m speaking to people across Westminster and they’re really struggling.

“Their costs have gone up 20 per cent, all of that is people costs. The only solution is to cut people.”

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