Malcolm Offord, the newly appointed leader of Reform UK in Scotland, has declined to reveal his net worth, dismissing questions about his personal wealth as a private matter. The multimillionaire financier, who was made a Conservative life peer in 2021, plans to stand for the Scottish Parliament in May.
Speaking at a press conference in Kirkcaldy alongside Reform leader Nigel Farage, Offord ceremoniously signed a letter stating he had 'retired' as a peer. However, he remains a life peer as only an act of parliament can revoke the title. Farage said Offord would no longer attend the House of Lords or use his title.
When pressed by reporters on whether he would declare his wealth or publish his tax returns, Offord refused. 'I’m not talking about my net worth. That’s not of any relevance to anybody,' he said. The convention at Holyrood is for party leaders to disclose their financial interests.
Offord, a yachting enthusiast who races at Cowes and collects classic cars, recently bought a mansion on Loch Lomond for £1.6m without a mortgage. He has previously endorsed charging users for NHS services. He argued that his wealth does not hinder his understanding of the cost of living crisis, stating he mixes with people from all backgrounds.
Farage announced Reform would field 100 candidates in the Scottish election, targeting most of the 129 seats. Offord described the candidates as 'real, authentic people' including midwives, teachers, doctors and a procurator fiscal. A recent Survation poll for True North shows Reform on 19% in the constituency vote, neck and neck with Labour, behind the SNP on 34%.
Conservative leader Kemi Badenoch dismissed Offord’s appointment, saying he is 'all about himself' and has never delivered a single leaflet. If elected, Offord will be subject to stricter disclosure rules at Holyrood than those in the Lords.
