Nigel Farage has been accused of “seeking to feather his own nest and cash in” on being an MP after he was referred to the sleaze watchdog over a fresh cryptocurrency row. The Reform UK leader already faces a probe over a £5million gift he received from crypto billionaire Christopher Harborne shortly before he announced he would stand as an MP.
New Allegations of Lobbying
The standards commissioner has now been urged to open another investigation over an allegation he lobbied the Bank of England for cryptocurrency policies that could benefit the business interests of Reform UK bankroller Mr Harborne. Labour MP Phil Brickell, who filed a report to Standards Commissioner Daniel Greenberg, told The Mirror he thinks it is “outrageous” if Mr Farage is lobbying “to water down rules and regulations around cryptocurrencies” at the same time as receiving cash from Mr Harborne.
Mr Brickell, who is chair of the All-Party Parliamentary Group on Anti-Corruption and Responsible Tax, added: “It shows that he is not the man of the people, the public servant, that he claims to be, but is rather seeking to feather his own nest and cash in on his role in parliament, and that's where his priorities seem to lie. He needs to be called out for it.”
Public Trust Concerns
“Public trust in politicians is low and the behaviour that he has carried out over the past couple of years since he got into parliament, including holding down 16 paid jobs on top of being an MP, show the complete contempt that he holds for the institution, and the public is sick and tired of this sort of behaviour and scandals,” Mr Brickell said.
In September, Mr Farage told LBC he would meet the Bank of England’s governor Andrew Bailey to tell him London should “embrace” cryptocurrency including Tether, a stablecoin in which Mr Harborne is a major investor. In October, the Reform leader told a Zebu Live event that he looked at the Bank’s plans for a digital pound with “total and utter horror”.
Previous Breaches and Donations
Mr Brickell has asked the standards commissioner to assess whether Mr Farage has broken lobbying rules under the MPs’ code of conduct. In 2021, the Commons’ standards committee found that Tory MP Owen Paterson had breached ethics rules after repeatedly using his position as an MP to promote two companies that paid him a combined £112,000 a year. In 2024, Blackpool South MP Scott Benton resigned after the sleaze watchdog found he’d broken lobbying rules when he was caught by an undercover newspaper sting offering to lobby ministers on behalf of gambling investors.
Thai-based billionaire Mr Harborne, who recently registered to vote in the UK, has donated £15m to Reform UK in the last year. This is on top of the £5m he gifted Farage before the general election in 2024. Mr Farage last year insisted Mr Harborne wanted “nothing in return” for his donation to Reform.
Ongoing Scrutiny
In May, Mr Greenberg confirmed he will look into whether Mr Farage’s failure to declare his £5m gift broke Commons rules that say new MPs must declare relevant gifts and donations in the previous 12 months. In interviews last month, the Reform leader said it is not the public’s business how he spends the money, and that he can splash it on Ferraris or betting on horseracing if he wants. He previously said the generous sum was to pay for his security.
Mr Farage also faced scrutiny this week after it emerged he raked in £270,000 for just 12 hours’ work as a brand ambassador for Direct Bullion – a rate of £22,500 an hour, more than 1,700 times the national living wage of £12.71. It is the largest single payment yet for work outside his role as an MP, which comes with a basic salary of just over £98,000 a year. Since becoming an MP in July 2024, the ex-Ukip leader has received more than £2m in income and gifts in total.
Bank of England Response
A Bank of England spokesman said: “People have a wide range of views on the work of the Bank. We always carefully listen to these, as we should do, but then we form our own judgements according to the remits Parliament has given to us. As has been previously confirmed, the Governor met with Mr Farage and Mr Tice last year as part of the Bank's engagement with political representatives. Mr Farage’s views on these topics and his differing view to the Governor have also been widely reported.”
Reform sources suggested the probe had been declined by the standards commissioner. But Mr Brickell added: “I will be providing the necessary additional information to the Standards Commissioner in short order. I certainly do not consider the matter closed.”
