LORD HESELTINE, the Deputy Prime Minister under John Major, refused to make any donations to the Conservative Party before the general election, The Times has learnt.

The Tory peer, who believes that his party has moved too far from the centre, gave no money to his party, according to accounts to be filed by his publishing firm, Haymarket Group.

“I don’t donate now, except for the minuscule amounts I pay for my own party membership,” Lord Heseltine said. During the 1990s, when he was in the Cabinet, Haymarket would make annual donations of up to £50,000.

Haymarket’s accounts for last year show that the publisher did give £25,000 to Conservative Mainstream, the pro-European umbrella group that Lord Heseltine chairs, matching the amount given in 2003.

The Tory party was given £1,000 in 2003, but nothing was handed over last year and there is no record of a donation during the election campaign. The group is normally Lord Heseltine’s vehicle for donations. “We support Conservative Mainstream. When the party adopts Conservative Mainstream, we’ll win elections,” he said.

Haymarket’s accounts will show that the publisher of Management Today, What Car? and FourFourTwo, earned £9.7 million before tax last year, a decline from £13.9 million in 2003, reflecting product investment and a growing interest bill. Turnover was £202 million, up from £180.6 million.

The group will also confirm that it has won the contract to run Manchester United’s magazine, United, and run its website, in a revenue share deal that will generate millions overall.

Lord Heseltine directly owns 52.4 per cent of the group.