The Midlands Industrial Council (MIC), which for years has maintained secrecy over its membership, includes tycoons such as Tony Gallagher, a property developer who has also donated money to Labour, Roy Richardson, another property developer, and Sir Anthony Bamford of the JCB digger empire and one of Britain’s richest men.

The men are among 22 active members of the council, which has donated £2m to the Tories since 2001.

The MIC published the names only after the members were approached by The Sunday Times following the leak last week. The Conservatives rapidly contacted the organisation and the membership list was released yesterday by David Wall, its secretary.

The MIC is dominated by property developers, the heads of haulage firms, food-processing companies and other traditional manufacturers.

It is one of the Conservatives’ most important financial backers and covers the cost of the party’s campaign to target marginal seats. But David Cameron, the Tory leader, had repeatedly refused to reveal who was behind the council.

Since 2001, political parties have been legally required to reveal the identities of their backers to allow public scrutiny of those who may be able to influence policies via donations. But Labour has accused Cameron and the “shadowy” MIC of exploiting a loophole in electoral laws to maintain members’ anonymity.

The Tories have declared the MIC as a backer but because it is an “unincorporated association” it does not have to publish accounts, unlike companies or charities, or disclose the names of its members.

Senior company executives have shunned political donations for fear of adverse publicity, so the MIC has provided an ideal vehicle for their support. Several members are understood to be concerned they would lose government contracts if seen to be supporting the Tories.

The chairman of the council is Bob Edmiston, a multi-millionaire car importer who was nominated for a peerage by the Tories last year. His nomination was blocked by the House of Lords Appointments Commission, which vets potential peers.

The MIC president is Bamford, knighted by Margaret Thatcher in 1990. He recently accompanied Cameron on a trip to India where the Tory leader opened a JCB factory.

Businessmen who join the council remain “members for life”, according to the MIC’s secretary. Non-active members include Sir David Lees, an adviser to Cameron and chairman of Tate & Lyle; Allen Lloyd, the Isle of Man-based founder of Lloyds chemists; and David Samworth, owner of Samworth Brothers, which makes Ginsters pasties and ready meals.

()The MIC campaigns for lower taxes for business, less red tape and improved transport infrastructure. It is also considered to be Eurosceptic.

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