The newly-installed leader of Reform UK in Scotland, multimillionaire financier Malcolm Offord, has publicly refused to reveal his personal net worth, stating it is a private matter. The announcement came during a press conference in Kirkcaldy where he was unveiled by the party's UK leader, Nigel Farage.
A Peer Stepping Down to Stand Up
Offord, who was made a Conservative life peer by former Prime Minister David Cameron in 2021, ceremoniously signed a letter stating he had "retired" from the House of Lords to stand for the Scottish Parliament. He and Farage acknowledged that his life peerage can only be cancelled by an act of parliament, a step they do not currently intend to take. Instead, Offord pledged not to attend the Lords or use his title.
The move clears the path for him to contest a seat in the Holyrood elections on 6th May, where Reform UK plans to field candidates in 100 of the 129 available seats. Farage expressed confidence that the party could win up to 18 seats, a figure supported by recent polling.
Wealth Questions Deflected
When pressed by journalists on whether he would declare his wealth or publish his tax returns—a convention for party leaders in Scotland—Offord was unequivocal. "I'm not talking about my net worth," he stated. "That's not of any relevance to anybody." He argued that asset valuation was complex and dismissed the line of questioning.
Offord's lifestyle includes competitive yachting at Cowes, collecting classic cars, and the recent £1.6 million cash purchase of a Loch Lomond mansion. He previously sparked controversy by suggesting the public could be charged for using the NHS.
He rejected the suggestion that his wealth disconnects him from the cost-of-living crisis, calling it "very patronising." "I mix with a whole range of people across the whole of Scotland," he claimed, asserting he could talk on equal terms with everyone.
Electoral Impact and Stricter Rules
The latest opinion poll from Survation, published by True North, suggests Reform UK is performing strongly in Scotland. The data indicates the party is neck-and-neck with Labour for second place in the constituency vote, behind the SNP. On the regional list vote, Reform and Labour are tied at 18%.
If elected, Offord will face far stricter transparency rules than those in the House of Lords. Holyrood's requirements would compel him to declare:
- Properties and land holdings
- Shareholdings and directorships
- Consultancy roles and other significant assets
Farage emphasised that Reform's slate of candidates represented a "broad cross-section" of Scottish life, including midwives, teachers, and doctors. Offord described them as "real, authentic people" who represent grassroots Scotland.
The political manoeuvre marks a significant moment for Reform UK's ambitions in Scotland, placing a high-profile, wealthy figure at the helm of their campaign just weeks before the nation goes to the polls.
