Reform UK has received a record-breaking £36 million donation from cryptocurrency billionaire Ben Delo, who says the sum is intended to ensure the party can compete on a "level playing field" against its parliamentary rivals. The financial package means Nigel Farage's party has amassed five times as much as the Conservatives and more than six times more than Labour this year.
Record-breaking donation
The sum eclipses the previous record for the largest single donation, a £10 million bequest from supermarket magnate Lord John Sainsbury, as well as cryptobillionaire Christopher Harborne's £9 million donation to Reform in August last year. Delo, who was already Reform's second-biggest donor prior to the latest contribution, explained his reasoning in The Telegraph.
"Unlike the people who express mock concern for the health of 'our democracy' while doing everything they can to keep it as a cartel, I want a fair fight and a level playing field," he wrote. He added that his conclusion from the troubles Reform has faced in recent weeks is that the party should be spending more time preparing to govern and less on raising money.
Boost for party operations
The donation represents a major boost for Reform, which could transform its operation by adding extra staff at party headquarters and hiring campaign managers for all the seats it is looking to target, according to the newspaper reports. Reform reportedly raised almost £15 million in donations in the first half of this year, compared to £10.2 million for the Conservatives and £7.7 million for Labour.
Delo, who says he is not paying up for personal gain as he has retired from finance, explained that he is giving Reform £1 million per month until 2029, the latest date the Labour Government can call a general election, but would hand over the full amount now. He said it would be done this way in a bid to prevent any attempt by Labour to block the support.
Ongoing scrutiny
A measure, which is yet to become law, would see a £100,000 cap placed on donations to political parties from British electors living abroad. Farage said he was "honoured and humbled" by Delo's donation.
The news comes as Reform continues to face questions over its finances, with a police investigation underway after allegations the party breached donation rules on foreign funding. Detectives from the Metropolitan Police have launched an inquiry after receiving "a number of reports" following a Channel 4 News broadcast last week, the force said. Reform UK denies any wrongdoing and will "fully co-operate" with the probe, a spokesman said.
Meanwhile, a Parliamentary committee is investigating whether Farage should have declared a £5 million gift from Harborne. Farage denies any wrongdoing and said declaring it wasn't required as it was a personal gift received prior to him standing as an MP.
