Reform UK has received its second £36m donation in just two days as another cryptocurrency billionaire backs Nigel Farage’s party with a huge donation.
Thai-based businessman Christopher Harborne, the party’s biggest donor to date, matched the record £36m donation given on Friday by fellow crypto tycoon Ben Delo.
It has sparked renewed calls for donations to be capped, with Reform netting £72m from just two men, provoking fears that mega donations could distort British politics.
Senior Labour MP Richard Burgon, one of the figures who backed Andy Burnham to take over as prime minister, warned: “Our democracy should not be for sale.”
As the donation was announced and confirmed to have been banked, Reform put out a social video of Mr Farage hitting back at recent accusations against him insisting: “I can’t be bought, I can’t be bullied.”
Reacting to the donation in an official statement, Mr Farage said he was honoured and humbled the pair had “shown such confidence in Reform”.
He added: “Both men know that we are the only party that can turn the country around and win the next general election – thanks to their generosity, we are now able to fight that election on a level playing field.”
Mr Harborne has already given £15m to the party, while a separate £5m donation from him to Mr Farage is at the centre of an investigation by the parliamentary standards watchdog after the Reform leader failed to declare it in his register of interests.
Confirming his staggering new pledge, Mr Harborne said: “There will be a lot of media speculation regarding this donation. So what do I expect in return for my donations? Nothing. No peerage, no policy change, just a party that is ready for government.
“I have already accumulated enough wealth for the rest of my life. I am committed to putting that to work for Britain and humanity as a whole. I want the same as everyone else in Britain: for my children and grandchildren to have the chance to live happy and productive lives here and be rewarded for their hard work.
“At the next general election, people will have to vote for the party that they think will best get that done and I’m making a donation very clearly to the party that I believe will do so.”
The donations follow pledges by Mr Farage to liberalise the cryptocurrency market in the UK and his decision to invest personally in the Tether stablecoin.
The Independent recently revealed that of the party’s early donations £15m had come from cryptocurrency investors.
Sources have suggested that Reform is planning a major overhaul of its operation and will need the cash to fund an injection of new blood after Mr Farage and the party have been under siege over accusations regarding donations.
Mr Farage is being investigated by the Standards Commissioner in parliament over the undeclared donation from Mr Harborne of £5m. The Reform UK leader received the money before becoming an MP but insisted it was personal and not political to allow him to have security for the rest of his life.
The Metropolitan Police have also launched an investigation into Reform following revelations on Channel 4, which saw two of Mr Farage’s top aides, chief of staff Dan Jukes and policy director James Orr, quit for allegedly being willing to accept an illegal foreign donation.
Questions have also been asked about deputy leader Richard Tice, who is under investigation by the standards commissioner over an all-expenses trip to Israel.
Labour Party chair Bridget Phillipson warned of the latest donation: “Farage can’t buy his way out of the sleaze and scandal he and Reform UK are drowning in – or the multiple police investigations that are ongoing into Reform’s dodgy finances.
“The serious questions Farage and Reform need to answer aren’t going away – in fact they’re just piling up. It’s time Farage and Reform came clean with the public, fully cooperated with the ongoing police investigations and prove they’re not just in it for themselves.”
Politicians and campaign groups have renewed demands for a donations cap.
Mr Burgon warned: “Our democracy should not be for sale. That’s why I backed the recent amendment calling for a cap on political donations. That needs to happen. And quickly.”
Rachel Millward, deputy Green Party leader, said: “Reform is a vessel for the super wealthy. They will always act in the interests of the super wealthy. Labour could have stopped this years ago by capping donations. Burnham promised to do it, then backtracked. Will he now admit this was a mistake?
“Burnham and Labour have been quiet on a donations cap for the last 24 hours. The public needs to know where he stands.”
Cary Mitchell, executive director at campaign group Best for Britain, said: “These record-breaking sums, which total more than seven times the largest amount ever given to a political party in our history, should spark huge concern among everyone seeking to protect the UK’s politics from being bought and sold to the highest bidder.
“Labour had the opportunity to act more quickly to tighten funding rules and preserve our democracy, and Andy Burnham must immediately review political funding regulations given this seismic increase of crypto money flowing into our democracy.”
A Labour Party spokesperson said: “Farage and Reform are showing exactly whose side they’re on. Crypto-billionaire ultra donors are lining up to help Farage buy his way out of the sleaze and scandal he’s drowning in. It won’t work and shows the public exactly who he is and who pays for him.
“The Labour government is taking action to safeguard our democracy, action that will ensure we clean up politics for good.”
Tory leader Kemi Badenoch put out a lengthy social media post likening the massive donations to former New York mayor and businessman Michael Bloomberg’s failed 2020 $1bn presidential candidacy bid.
She warned: “Reform are about to learn the lesson of the law of diminishing returns. Money is an accelerant, not a cure. If the fundamentals are good, it improves things. If they’re bad, things will get a whole lot worse. You can buy staff and advertising, but you can’t buy judgement or integrity. Sometimes a bigger cheque just means you make more of the same mistakes.”
Reform has insisted that the mega donations only “level the playing field” when competing with other major parties and do not give them an advantage.
Quoting Electoral Commission figures, they claimed that donations the Tories have raised since 2021 amounted to £150m, and Labour £128m.
Read MoreAll Reform MPs given 24-hour security after Ann Widdecombe killing
Reform ‘could be the biggest party in Parliament’ if Burnham calls an early election
Crypto tycoon donates record £36m to Reform UK
Burnham to slash energy bills by up to £200 – see if you’re eligible
George Osborne says there’s one clear solution to fix Brexit ‘mess’
Reform secures record-breaking £36m donation from crypto entrepreneur
