Nigel Farage has faced criticism over his £400,000-a-year role promoting physical gold as a pension investment for Direct Bullion. The Reform UK leader earns more than four times his MP salary for four hours of work per month, featuring in videos that encourage viewers to invest in gold through self-invested personal pensions (SIPPs).
Experts have raised concerns that Farage's videos lack adequate disclaimers about the risks of gold investment, including potential value drops, storage costs, and the absence of regular income. Tom McPhail, a governor of the Pensions Policy Institute, described the strategy as “niche” and unsuitable for most people, warning that it could be “irresponsible” given Farage's influence.
Tom Brake, chief executive of Unlock Democracy, has referred the videos to the Advertising Standards Authority (ASA), citing missing or tiny disclaimers. A Reform UK spokesperson dismissed the criticism, saying the party “took pity on the Guardian for not having better things to do with their time than measure font sizes”.
Farage defended his role, stating that those who followed his advice have seen returns of over 100%. Direct Bullion did not respond to requests for comment. Farage also holds other paid positions, including a GB News presenting role and columns for the Daily Telegraph and Sky News Australia.
