Acocrding to the Guardian.co.uk - "The Tories were accused last night of being bankrolled by a City 'wolf pack' after it emerged that the party was receiving hundreds of thousands of pounds from hedge fund managers who have been making vast sums of money from plunging bank shares."

It has also emerged the Conservatives have continued to receive money from Lord Laidlaw, a Monaco-based tax exile who has given the party more than £3m. One donation came after the fact that he had taken part in orgies with prostitutes was exposed in the tabloids.

The revelations, made in a Channel 4 Dispatches programme to be broadcast tomorrow night, cast a shadow over Cameron's attempts to seize the political initiative during this week's conference. They are likely to reignite the row over how the Tories are funded and raise questions about his personal commitment to transforming the party's image.