The point is he specifically criticises the Tories for taking money from those sources (who also need money of course, they don't have the luxery of union backing) whilst taking money from them himself. It is the hypocrisy that gets me, I don't give a shit where money comes from so long as it is declared and transparent.
Union backing isn't a luxury and nor is it a 'given'. Have you ever joined a union? A large number of unions are simply disaffiliated. If you don't want your money to go a political organization, in many industries you have a choice between affiliated and non-affiliated unions. Once in a union, to maintain a political fund at all, a union has to hold a vote of confirmation every 10 years under secret ballot, etc., to establish member consent. Almost all unions also have disaffiliation procedures that would allow members to force a union to stop affiliating with a political party. Even unions which are affiliated and maintain political funding must, by law, allow the right to opt-out.
Now, I think there are things that can be improved. I'd prefer to move to opt-in, for example, and I think there need to be laws to improve transparency. But there are two keys points here. The first is that businesses and business owners have faaaar less oversight than unions do. The number of large corporations which are non-affiliated is essentially zero; almost all of them to contribute to at least one party. Corporations do not have to consult shareholders at all to establish a political fund. Shareholders can theoretically over-rule these in corporations without tiered shares, but with no legal framework to make this more formal, I can't actually think of any examples where this has happened. Finally, shareholders have no opt-out. The profits of the company, which are given to you as dividends because you literally *own* a part of that company, can be instead diverted towards a party you may disagree with and your consent is not even considered.
The second issue is that this is a metric *ton* more money comes from business than unions. It's not like the Conservatives are going "such a shame we can't get that union dough and have to settle for this business cash, wish we were like that richly funded Labour party :'( ".
As for the hypocrisy, yeah, it probably is. Is that important? No. Ed has literally zero choice over taking this kind of cash. Suppose he didn't take it, Labour loses a few more seats it would otherwise have won, and he doesn't become Prime Minister. Now he can't do anything about it to begin with. That's just a sad fact about how much control these kinds of institutions have over our political system; any viable party has to use them.
However, that's not really a desirable end-goal, right? I mean, it might just be me, but how much have you donated to a political party lately? I actually like Labour, I'm relatively interested in their success, and I've perhaps donated £50 over my entire life-time, because I've been a student for quite a while. I'm unlikely to do badly for myself, either, given where I'm a student at, and hopefully will be able to donate a fair amount more two decades down the line; in contrast, there will obviously be people who are totally unable to donate anything at all because that money goes on paying the rent or on their child's clothing or on the weekly food bill or on fixing their car they need to get what little pay they do or all of the necessities that some people in this country still struggle to meet.
Now think about this for a moment: Michael Farmer has *personally* donated £2.1 million. That's not even a business, that's a businessman. He has over
40,000 the cash influence I do, respectively. How on *earth* is that a good system of running a country? Politics shouldn't be responsive to you because you make cash, it should be responsive to you because you are a person with hopes and dreams and thoughts and cares and morals and you
matter. That's why we have democracy. This isn't a system we should continue.
So sure, Ed has to be a hypocrite. He has to say hedge funds are bad, while taking money for them. But there are two alternatives. a) He doesn't take money from them. Now things are worse, because people who support Labour never get their views heard. b) He doesn't criticize hedge funds. This is the worst possibility of all, because now there's absolutely no chance that the system will ever get fixed and that Michael Farmer won't have over
40,000 times my influence because politicians aren't even paying *lip-service* to the idea this might be bad because apparently being a hypocrite is somehow way worse than the fact you can literally buy out marginal constituencies. No thanks. I'll take at least the lip-service to the Conservative equivalent, which is just pretending this problem doesn't even exist, or even acting to actively entrench business power. Might be useful to start examining your own side before you engage in this particular pissing contest.