The Conservative Party's new paymaster, Stuart Wheeler of IG Index, is not the only gambling man to put his odds on the Tories. Michael Spencer of Garban Intercapital, who owns IG's main rival, City Index, is also a Hague man. He has given money to Conservative Party coffers for several years and will be giving more money again this year. Spencer says: 'I'm afraid it's not as much as Stuart's £5m, but I do give a little.'

Spencer and Wheeler also share a passion for cards: Spencer loves poker while Wheeler is a poker, bridge and backgammon fanatic. Both also owe their fortunes indirectly to gold. In the late 1970s, Spencer shorted gold at $400 - too high, he thought. The US Treasury was auctioning gold from its stockpile and he thought it could only go down. But, oh no, gold went roaring up to above $800. It took Spencer two years and two jobs to recover from his losses. Indeed, it was the ignominy that drove Spencer on to build up his broking business, Intercapital, from which he has made millions and which notched up a record share price last week.