Conservative leadership race spending cap raised to £400,000

Exclusive: Higher limit reflects longer race, while cash-strapped party seeks 50,000 from candidates to cover costs

The Conservatives have set the spending limit in their leadership contest at 400,000, as the beaten and skint opposition party tries to use the race to cover costs.

Robert Jenrick, a frontrunner who has been preparing for the contest for some time, had pressed for a higher cap. The 400,000 limit is 100,000 more than it was in the last contest, two years ago.