Reform UK has raised more than double the amount of any other political party from private donations in the first quarter of the year, bringing in £9m largely from cryptocurrency billionaires. The figure far outstrips the £4m each raised by Labour and the Conservatives during the same period.
The party received a £3m donation from Christopher Harborne, a British-Thai dual citizen involved in cryptocurrency and aviation investments, and £4m from cryptocurrency entrepreneur Ben Delo, who is relocating to the UK from Hong Kong. Together, these two donations account for a third of all private money flowing into British politics in the first quarter.
Harborne’s latest contribution brings his total donations to Reform UK to £15m over the past year, while Delo is a first-time donor to the party. Reform leader Nigel Farage is under pressure over a separate £5m personal gift from Harborne, which is being investigated by the standards commissioner. Farage has said the money was for his security but later claimed it was a reward for his Brexit campaigning.
Other notable donors include David Grainger, an investor in health, biotech and longevity, who gave £1m; Navroz Udwadia, co-founder of investment firm New Wave Global; and a company owned by Reform’s South Tyneside council leader, Paul Mackings, which donated £111,000. Donations also came from Maria Rost, wife of US crypto investor John Rost, who gave £130,000, and Nicolas Homsy, who has business links to the Middle East, who gave £50,000. RMB Associates, run by nightclub owner Robin Birley, donated the same amount.
Susan Hawley of the Spotlight on Corruption campaign group said the figures exposed 'the scale of big money flowing into British politics' and raised 'serious questions about who is funding our political parties'. She warned that a small number of wealthy individuals and opaque corporate structures risked undermining public trust and democracy.
Prime Minister Keir Starmer has been urged to introduce a cap on donations but has reiterated plans to limit only overseas donations and impose a moratorium on cryptocurrency donations. The Electoral Commission’s Jackie Killeen noted that the UK’s political finance system has high transparency but acknowledged the need for strengthening, and welcomed proposed government reforms in the representation of the people bill.
