Reform UK leader Nigel Farage (Image: Getty)
Reform UK has been handed a record-breaking £36million donation by a wealthy donor who says the staggering sum is to make sure the hard right party are able to conduct a “fair fight” against their Parliamentary rivals. Cryptocurrency billionaire Ben Delo’s new package of financial support means Nigel Farage’s party has amassed five times as much as the Tories and more than six times more than Labour this year.
The sum eclipses both the previous record for the largest single donation (a £10million bequest from supermarket magnate Lord John Sainsbury), and cryptobillionaire Christopher Harborne’s £9million donation to Reform in August last year. Mr Delo, who was already Reform’s second-biggest donor prior to the latest donation explained his reasoning for the bombshell move in The Telegraph. “Unlike the people who express mock concern for the health of ‘our democracy’ while doing everything they can to keep it as a cartel, I want a fair fight and a level playing field,” he wrote.
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Nigel Farage makes theatrical entrance for conference speech
Nigel Farage makes theatrical entrance for conference speech
He added that his conclusion from the troubles Reform has faced in recent weeks is the party should be spending more time on preparing to govern, and less on raising money.
It represents a major boost for Reform, who could transform their operation by adding extra staff at their party HQ, and hire campaign managers for all the seats they’re looking to target, the newspaper reports.
Reform reportedly raised almost £15million in donations in the first half of this year, compared to £10.2million for the Conservatives and £7.7million for Labour.
Mr Delo, who says he isn’t paying up for personal gain as he has retired from finance, explained that he giving Reform £1million per month until 2029, the latest date the Labour Government can call a general election, but would handing over the the full amount now.
He said it would be done this way in a bid to prevent any attempt by Labour to block the support.
A measure, which is yet to become law, would see a £100,000 cap placed on donations to political parties from British electors living abroad.
Mr Farage said he was “honoured and humbled” by Mr Delo’s donation.
It comes as Reform continues to face questions over its finances, with a police investigation underway after allegations the party breached donation rules on foreign funding.
Detectives from the Metropolitan Police have launched an inquiry after receiving “a number of reports” following a Channel 4 News broadcast last week, the force said.
Reform UK denies any wrongdoing and will “fully co-operate” with the probe, a spokesman said.
Meanwhile, a Parliamentary committee is investigating whether Mr Farage should have declared a £5million gift from Mr Harborne.
Mr Farage denies any wrongdoing and said declaring it wasn’t required as it was a personal gift received prior to him standing as an MP.