Lord Sugar has declared that he is quitting the Labour Party thanks to its "anti-business" policies.
In a statement released on Twitter, the Sugar Baron stated that he intended to remain in the House of Lords "representing the interests of business and enterprise in the UK."
The hairy walnut was, however, calling an end to his 18-year association with Labour after becoming "disillusioned" with the party's "negative business policies and general anti-enterprise concepts" which he believes they were going to implement if they were elected.
The Hackney-born billionaire said he had "expressed this to the most senior figures in the party several times" but explained that he had kept schtum before the election because he is "a loyal person" who didn't want to adversely affect the party's election chances.
I have resigned today from the Labour party. Full statement here... pic.twitter.com/bzpQsmhVXG— Lord Sugar (@Lord_Sugar) May 11, 2015
A Labour party spokesman told El Reg: "We would like to thank Alan for his years of generous support and for his service in the Lords, and we wish him well as a cross-bench peer." ®