The UK Conservative party is facing a worsening cash crunch as some funders hold off from making donations while Theresa May remains prime minister, according to several party donors. The financial pressures have prompted concerns over whether the party can afford to fight a snap general election as growing numbers of ministers and MPs believe that Mrs May’s refusal to countenance alternative proposals for leaving the EU may result in a dissolution of parliament. Mick Davis, the Tories’ chief executive, has told supporters in recent meetings that the party urgently needs more donations to keep itself afloat. Sir Mick, former chief of mining company Xstrata, is also one of the largest individuals donors, giving £295,500 in the last quarter of 2018. “It apparently has just £1.5m left in the bank, an incredibly low financial buffer, and no donors want to give any money because of the total chaos,” said one fundraiser. One senior figure at Conservative headquarters said “donors are frustrated by the parliamentary party’s failure to get behind the prime minister”. However, one Tory donor said: “We are frustrated by lack of consistency: Mick plans to raise £32m in 2019 from donations, while at the same time it is obvious that the donors have lost confidence in Number 10. Hence no money is coming in.” Another senior Tory agreed that the party’s two treasurers, Sir Mick and Ehud Sheleg, an art gallery director, “themselves are putting in more than they expected to”. Conservative Campaign Headquarters declined to comment on the claims. According to the minutes of a recent meeting of party donors seen by the Financial Times, the party’s income last year was £26m and its expenses were £25m, leaving an operating income of £1m. About £3m of legal costs detailed in the minutes, which are related to an investigation into election expenses in South Thanet during the 2015 general election, according to a party campaigner, are thought to have eaten into the party’s cash reserves. The largest cost has been £5m spent on a team of campaign managers recruited in the wake of the party’s disappointing performance in the 2017 election. These individuals have been working in marginal seats, but some donors have criticised the expense. “Adding to the worries is the direct and indirect costs for the campaign managers; costs Labour do not have to worry about,” said a donor. “Hence [Sir Mick] Davis’s odd claim that if an election had to be fought, CCHQ would be ready. It seems highly inconsistent with the actual finances.” One Conservative MP with knowledge of the situation said: “It is true that we should be doing much better on fundraising. But it is far from dire, the donors just want clarity.” But many Conservative donors have refused to increase funding to the party while Mrs May remains leader, with several Eurosceptics stating that a new prime minister must be installed before they will donate any more money.