Reform UK Solidifies Fundraising Dominance with Major Crypto Donations

New data reveals that Reform UK has significantly widened its financial gap over rival parties, largely due to £7 million in contributions from two British expatriates with ties to the cryptocurrency industry. According to recent filings, Hong Kong resident Ben Delo contributed £4 million, while Christopher Harborne, based in Thailand, gave £3 million to Nigel Farage’s party.

These substantial injections of cash arrived in the weeks leading up to the government’s announcement of a new £100,000 annual limit on donations from British citizens residing abroad, effective from March 25. The proposed restriction has ignited a political dispute; Reform has accused the Labour government of attempting to "choke off legal funding" for its primary competitor.

The figures, published by the Electoral Commission, cover the first quarter of the year. Records indicate that Reform accepted two separate £2 million payments from Delo on January 14 and March 3, alongside a £3 million transfer from Harborne on January 23. Despite the donors' backgrounds, none of these funds were transferred in cryptocurrency.

Together, these gifts constituted the vast majority of the £9.3 million in private donations Reform declared during this period and represented approximately one-third of the £20.7 million total reported by all political parties. Additionally, the party acknowledged a further £1.1 million from biotech entrepreneur David Grainger.

Delo, a Sheffield native and co-founder of the BitMEX trading platform, is a first-time donor to Reform, though he had publicly disclosed the contributions earlier this year. Harborne, a British crypto investor, has been a major financial backer throughout 2025, having donated £12 million in total. This figure includes a £9 million gift in August—the largest single contribution ever made by a living individual to a British political party.

Harborne’s generosity has drawn scrutiny. Farage is currently under investigation by the parliamentary standards commissioner regarding a £5 million cash gift he received from Harborne prior to his 2024 election as an MP. Farage maintains that he was not required to declare the money, arguing it was a "purely private" transaction unrelated to his official parliamentary duties.

Fundraising Outpaces Rivals

The influx of large-scale individual donations allowed Reform’s fundraising to dwarf that of both Labour and the Conservatives, each of which reported approximately £4 million in private contributions during the same timeframe. This trend follows a strong finish to the previous year, where Reform secured over £5.4 million in large donations during the final three months of last year, the highest among all parties, as groups prepared for the critical May elections.

For Labour, the largest individual contributions came from long-time supporter Lord David Sainsbury and Gary Lubner, former head of Autoglass, who each donated £550,000. Lubner had previously contributed millions to Labour ahead of the last general election. The party also reported £1.4 million from seven trade unions, with £392,544 coming from Unite and £366,936 from Unison.

In comparison, the Green Party reported just £209,000 in private donations, while the Liberal Democrats declared £2.2 million.

Disclosure Rules and Public Funding

Political parties are mandated to report any donations exceeding £11,180 to the Electoral Commission. These figures exclude smaller contributions and membership fees, which are detailed separately in annual accounts. Additionally, opposition parties receive public funds to assist with parliamentary responsibilities, with allocations determined by their performance in the previous election.

During the first quarter of this year, the Conservatives received £1.8 million through this public funding channel, the Liberal Democrats received £727,134, and Reform received £98,763.

Controversy Over Overseas Cap

The latest filings emerge amidst controversy over the government’s plan to impose a £100,000 annual cap on donations from British expatriates. The limit is set to apply retrospectively from March 25 once legislation passes Parliament, requiring parties to refund any amounts exceeding the threshold received after that date. Ministers argue that the measure, introduced alongside a government-commissioned review earlier this year, is necessary to mitigate the risk of impermissible donations from foreign sources.

Source: BBC News Generated at: 2026-06-04 14:03:49 UTC