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Reform UK Receives Record £36m Donation from Crypto Billionaire
Confirmed
In Short: Reform UK has received a record £36m donation from a British cryptocurrency billionaire, despite ongoing police scrutiny over foreign funding allegations.
Reform UK has received a record £36m donation from a British cryptocurrency billionaire, a sum that marks the largest single donation ever given to a UK political party. The donation, made by a man named Delo, who has already donated £4m to the party, comes as Reform UK faces scrutiny over foreign funding allegations. Delo, who plans to move back to the UK from Hong Kong, has pledged to donate £1m a month until the latest date Labour could call a general election in 2029, but he will give the money up front in case the government tries to limit mega-donations in the future.
Labour Party spokespersons have criticized the donation, stating, 'Farage is still up to his neck in scandal' and that 'the questions he faces aren't going away— in fact, they're piling up.' The police are investigating allegations that Reform UK broke foreign funding laws, with a particular focus on donations from Fiona Cottrell, the mother of longtime Farage ally George Cottrell. Reform UK has been reported to the police by its rivals, and the party's fundraising practices have been under intense scrutiny.
Reform UK's fundraising has been under the spotlight, with police announcing an investigation into the party's foreign funding practices. The police inquiry is looking into donations given directly to the party by Fiona Cottrell, the mother of longtime Farage ally George Cottrell. The party has also been criticized for its plans to use the donation to fund a £20,000 tax-free allowance, which critics argue would be paid for by cuts to welfare, foreign aid, and net zero subsidies.
Reform UK's conference, which aimed to set out its vision for its 'first 100 days' in government, has been overshadowed by these allegations. The party's new slogan, 'the first 100 days,' is plastered across the three-day event in Birmingham, where Reform and Nigel Farage have outlined their plans. However, the scandal has put a significant dent in the party's ability to present a united front and has raised questions about the legitimacy of its funding.
What's confirmed
- Reform UK has received a record £36m donation from a British cryptocurrency billionaire, a sum that marks the largest single donation ever given to a UK political party. The donation, made by a man named Delo, who has already donated £4m to the party, comes as Reform UK faces scrutiny over foreign funding allegations. Delo, who plans to move back to the UK from Hong Kong, has pledged to donate £1m a month until the latest date Labour could call a general election in 2029, but he will give the money up front in case the government tries to limit mega-donations in the future.
- Labour Party spokespersons have criticized the donation, stating, 'Farage is still up to his neck in scandal' and that 'the questions he faces aren't going away— in fact, they're piling up.' The police are investigating allegations that Reform UK broke foreign funding laws, with a particular focus on donations from Fiona Cottrell, the mother of longtime Farage ally George Cottrell. Reform UK has been reported to the police by its rivals, and the party's fundraising practices have been under intense scrutiny.
- Reform UK's fundraising has been under the spotlight, with police announcing an investigation into the party's foreign funding practices. The police inquiry is looking into donations given directly to the party by Fiona Cottrell, the mother of longtime Farage ally George Cottrell. The party has also been criticized for its plans to use the donation to fund a £20,000 tax-free allowance, which critics argue would be paid for by cuts to welfare, foreign aid, and net zero subsidies.
- Reform UK's conference, which aimed to set out its vision for its 'first 100 days' in government, has been overshadowed by these allegations. The party's new slogan, 'the first 100 days,' is plastered across the three-day event in Birmingham, where Reform and Nigel Farage have outlined their plans. However, the scandal has put a significant dent in the party's ability to present a united front and has raised questions about the legitimacy of its funding.
What's still developing
- "Reform UK can't buy their way out of questions about sleaze, criminal mates and dodgy finances," they said.
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- But Labour previously introduced a £100,000 cap on donations from British citizens living overseas.
- Mr Delo, who was previously Reform UK ’s second-largest donor, has said he wants to help the party prepare for government and ensure it is given a “fair fight”.
- Mr Delo added that it took someone with a “thick skin” to financially back Reform, citing the way Mr Harborne “had been treated” following his donations.
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- Jenrick told the BBC the policy would provide “money that people really need right now” and that it would be paid for by “cutting out the waste”, including £52bn from welfare reform, £7bn from foreign aid cuts and £10bn by ending net zero subsidies.
- He told the party conference he eventually wanted to hit Reform’s “ambition” of a £20,000 tax-free allowance – as the party previously pledged in its 2024 general election manifesto – and would be “a tax cut for 40 million people, the biggest rise in the personal allowance in its history, and delivered not in 10 years but in my very first Budget”.