Two blockbuster donations worth a combined £72 million have thrust Reform UK into the spotlight — and prompted the party to insist its new crypto-billionaire backers are seeking “nothing” in return.
Reform said neither Christopher Harborne nor Ben Delo would be awarded a knighthood, a peerage or any government contract if the party wins power, after receiving the gifts — £36 million from each man — within the space of 24 hours.
The contributions are the largest in British political history and, taken together, amount to the equivalent of three-quarters of the money spent at the 2024 general election by all parties combined.
Mr Harborne, who is based in Thailand and is now Reform’s biggest donor, described his contribution as “a philanthropic gift to our country” designed to help the party gear up for government.
Alongside his support for Reform, Mr Harborne has also given £5 million directly to Nigel Farage. Mr Farage’s failure to declare that gift has triggered an investigation by the Parliamentary Standards Commissioner.
Pardoned by Donald Trump
Mr Delo — pardoned last year by US President Donald Trump after being convicted of violating the US Bank Secrecy Act — said he wanted his donation to create a “level playing field” between Reform and its rivals.
Reform rejected any suggestion the donations could buy influence, posting on X: “Our donors want nothing and will never be given a peerage, knighthood or a government contract.”
In comments to the Daily Telegraph, Mr Farage said the cash would be spent “for one purpose only: to make certain we are ready to form a government at the next election”.
He said Reform planned to bankroll “the best research and policy department British politics has ever seen” and to bring in “the best minds in every area”.
Mr Farage has for years championed the cryptocurrency sector, and Reform has rolled out a string of crypto-friendly proposals.
Last year, the party said it would cut taxes on crypto assets and establish a “Bitcoin reserve”. Reform also accepts donations in cryptocurrency.
The scale and speed of Mr Harborne and Mr Delo’s gifts have also revived demands for tighter limits on political donations.
New laws on political donations
Labour MP Stella Creasy said the latest funding surge showed a cap “cannot come too soon to protect British democracy”.
Ms Creasy is among a group of backbench MPs who put forward an amendment to the Government’s Representation of the People Bill that would have stopped donors giving more than £100,000 to parties in any single year.
The Commons did not debate her amendment after the government said it would establish a taskforce to address the problem of “mega-donors”.
The Bill is due to be debated in the House of Lords tomorrow, and Ms Creasy said peers now had a chance to “stop these people from distorting the next election”.
Duncan Hames of Transparency International UK said the donations made “an irrefutable case” for a cap, while the campaign group Spotlight on Corruption warned the gifts could have a “huge and damaging impact” on UK politics.
MPs last week backed proposals including a £100,000 cap on overseas donations and a ban on funding via cryptocurrency, though the draft legislation still requires approval in the House of Lords before it can become law.
The back-to-back donations give Mr Farage’s party fresh momentum after a difficult summer, which included the opening of a criminal investigation into allegations it broke political donation rules.
Reform UK denies any wrongdoing and says it will co-operate fully with the investigation.
