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Reform UK Faces Scrutiny Over £72m Crypto Donations, Rayner Warns
Confirmed
In Short: Angela Rayner, Labour's housing secretary, has warned that Reform UK could face action over two £36m donations from crypto billionaires, as the government seeks to change laws on political party donations.
Reform UK has received a second £36m donation in two days, bringing the total to £72m from two cryptocurrency billionaires, Ben Delo and Christopher Harborne. The donations have sparked scrutiny, with Labour's Angela Rayner warning that the party could face action under new laws being pushed through parliament. The government is seeking to cap donations from British expats, including a £100,000 cap backdated to 25 March, according to reports.
Reform UK leader Nigel Farage has described the donations as a 'breakthrough moment' for the party, stating that the funds will be used to hire 'the brightest and best minds to work on policy and the most comprehensive plan for government ever.' However, the party is facing additional scrutiny after Channel 4 News broadcast footage showing two senior Reform aides suggesting a way around electoral law to secure foreign party donations.
Robert Jenrick, Reform's Treasury spokesman, has defended the donations, stating that they are 'entirely in line with the law as it is and, as far as we know, the law as it's going to be in the future.' He added that the party sees no reason to return the donations and will not reward donors with peerages, knighthoods, or government contracts.
The Metropolitan Police is also investigating Reform UK, following the broadcast of the Channel 4 News footage. The party is facing further questions about the funding of a protest over the Chagos Islands, which is also connected to Reform UK. Liberal Democrats have called for emergency legislation to cap campaign donations and spending, while the party is also under pressure to explain the large sums received from billionaire donors.
What's confirmed
- Reform UK has received a second £36m donation in two days, bringing the total to £72m from two cryptocurrency billionaires, Ben Delo and Christopher Harborne. The donations have sparked scrutiny, with Labour's Angela Rayner warning that the party could face action under new laws being pushed through parliament. The government is seeking to cap donations from British expats, including a £100,000 cap backdated to 25 March, according to reports.
- Reform UK leader Nigel Farage has described the donations as a 'breakthrough moment' for the party, stating that the funds will be used to hire 'the brightest and best minds to work on policy and the most comprehensive plan for government ever.' However, the party is facing additional scrutiny after Channel 4 News broadcast footage showing two senior Reform aides suggesting a way around electoral law to secure foreign party donations.
- Robert Jenrick, Reform's Treasury spokesman, has defended the donations, stating that they are 'entirely in line with the law as it is and, as far as we know, the law as it's going to be in the future.' He added that the party sees no reason to return the donations and will not reward donors with peerages, knighthoods, or government contracts.
- The Metropolitan Police is also investigating Reform UK, following the broadcast of the Channel 4 News footage. The party is facing further questions about the funding of a protest over the Chagos Islands, which is also connected to Reform UK. Liberal Democrats have called for emergency legislation to cap campaign donations and spending, while the party is also under pressure to explain the large sums received from billionaire donors.
What's still developing
- Rayner, who also appeared on the programme, said the changes proposed by the government were "directly as a result" of a review by former top civil servant Philip Rycroft, external, published on 25 March.
- Since the 2024 election, the Conservative Party has raised £37m, Reform has raised £35m before Delo and Harborne's large donations, Labour had raised £21m, the Liberal Democrats £17m and the Green Party £1.9m Rayner said the aim would be to "protect our democracy in the spirit of individuals not being able to overpower and buy their way into democracy at the expense of those people that are at the ballot box".
- Reform receives second £36m donation in two days as crypto investor matches record The measures were added to the Representation of the People Bill after they were approved by MPs this month.
- With fears that the cash from billionaires could distort British politics, Ms Rayner warned that Reform should not count on keeping all the money as new law Labour is pushing through parliament will be “backdated” to cover all donations from March this year.
- In reference to other parties rewarding their donors, Reform insisted they “want nothing” and will never be given a peerage, knighthood or a government contract for handing over cash.
- After it emerged that BitMEX co-founder Ben Delo had given the party £36 million, crypto investor Christopher Harborne said on Saturday that he was matching the donation, India Today reported.
- Established parties warned that unlimited donations from billionaire businessmen could corrupt elections, while the Liberal Democrats called on Prime Minister Andy Burnham to cap donations.
- Liberal Democrat Cabinet Office spokeswoman Lisa Smart said there should be emergency legislation to cap campaign donations and spending.