Labour Eyes Donation Curbs After Reform's £72m Haul

Labour Eyes Donation Curbs After Reform's £72m Haul

Robert Jenrick, Reform UK leader, in hedcut engraving portrait
Robert Jenrick, Reform UK leader, after the party received £72m in donations from crypto billionaires in 48 hours.Illustration: The Frank

The News

Nigel Farage's Reform UK has taken in £72 million from two crypto billionaires in 48 hours — the largest donations in British political history — and Labour is now signaling it may tighten the rules that allowed them.

Timeline

Saturday

The money

Al Jazeera reported Saturday that a second crypto billionaire donated a record $49 million to Reform, taking the total pledged since Friday to $97 million. The Wall Street Journal reported that a businessman pardoned by Trump backed Farage's party with £36 million, a sum quickly matched by a second donor.

Sept. 11

The Frank reported the first £36 million gift on Sept. 11.

Reactions

Housing Secretary Angela Rayner suggested the £72 million could be illegal under Labour's new rules, The Independent reported Sunday, reacting to two £36 million donations made within two days. The Daily Mail reported Rayner said the funding of political parties was a "live issue" and identified the donors as financiers Christopher Harborne and Ben Delo, who it said jointly smashed the record for the largest donation in British political history.

Reform rejects the premise. Jenrick said the donations were "entirely in line with law," the BBC reported, in a story noting the government is trying to change the law on donations to UK political parties from British expats.

Farage, writing in the Mail on Sunday, said he was "delighted and humbled" by Harborne's £36 million and that the money was for one purpose: to prepare Reform for government. In a separate Daily Mail report he called the double donation an "investment in democratic renewal" and pledged to turn what the paper called an accident-prone party into one fit for government.

Does it buy an election?

Polling analyst Sir John Curtice, writing in the Daily Mail, said Reform is better placed to fight the next election but that the money is no guarantee it wins. The paper's own editorial urged Farage to spend the windfall professionalising the party.

More

The Daily Mail also reported that Rupert Lowe said he had "deliberated" over an offer from Elon Musk to give his Restore Britain group "as much money as we want," but rejected it over "optics" and because accepting a foreign donation would be illegal.

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