He is being presented as a latter-day Churchill, a figure who can supposedly save Britain from a headlong rush into Euro-federalism.
As in Hong Kong, billionaires can now play a big role in British politics. Money, it is currently believed, can buy votes in the general election.
The billionaire is the Anglo-French Sir James Goldsmith; his group is the one-issue Referendum Party, which believes the people of the UK must be allowed to decide in a referendum whether there is further integration with Europe to the extent of having a single currency.
In recent days Sir James has been financing double-page advertisements in every national newspaper. He has attracted celebrities and sportsmen to his cause. Former Tory treasurer Lord MacAlpine was an early catch but even Conservative MPs who should know better profess, as did right-winger Sir Teddy Taylor, that Sir James is 'fantastic' and 'the only hope for Britain'.
Sir James plans to place candidates in every constituency where the incumbent MP has not openly declared he or she is for a referendum.
Some Tories will mock him. In parts of Britain, particularly poorer areas attracting EU money, closer links with Europe are welcomed - federalism is a non-issue.
Nonetheless Sir James is a big worry for many because, although the Referendum Party will not win one seat across the nation, it may attract enough anti-European Tories to vote for it in marginal constituencies and further dent John Major's efforts to retain power.
