Reform UK has received a record £36 million donation from a wealthy donor who says the staggering sum is intended to ensure the far-right party can fight “fairly” with its rivals in Parliament. Crypto billionaire Ben Delo’s new bailout package means Nigel Farage’s party has raised five times more than the Tories and more than six times more than Labor this year.
The sum eclipsed both the previous record for the largest single donation (£10 million bequeathed by supermarket magnate Lord John Sainsbury) and crypto-billionaire Christopher Harborne’s £9 million donation to reform in August last year. Mr Delo, who was already Reform’s second-largest donor before the latest donation, explained the reason for the high-profile move to The Telegraph. “Unlike people who express false concern for the health of ‘our democracy’ while doing everything they can to keep it a cartel, I want a fair fight and a level playing field,” he wrote.
He added that his conclusion from the problems Reform has faced in recent weeks is that the party should spend more time preparing to govern rather than raising money.
That represents a major boost for Reformers, who could transform their operations by adding more staff at their party headquarters and hiring campaign managers for all the seats they are targeting, the newspaper said.
Reform reportedly raised almost £15 million in donations in the first half of this year, compared with £10.2 million for the Conservatives and £7.7 million for Labour.
Mr Delo, who says he is not paying for personal gain as he has retired from finance, explained he is committing £1m a month to reform until 2029, the last date a Labor government can call a general election, but will hand over the full amount now.
He said it would be done in a way that would prevent any attempt by the Labor Party to block support.
The measure, which has not yet become law, would impose a £100,000 limit on donations to political parties from British voters living abroad.
Mr Farage said he was “greatly and humbled” by Mr Delo’s donation.
It comes as Reform continues to face questions over its finances, with a police investigation underway following allegations that the party broke donation rules on foreign funding.
Metropolitan Police detectives launched an investigation after receiving a “number of reports” following a Channel 4 news broadcast last week, police said.
A Reform UK spokeswoman denies any wrongdoing and will “fully co-operate” with the investigation.
Meanwhile, a parliamentary committee is investigating whether Mr Farage should have declared a £5 million gift from Mr Harborne.
Mr Farage denies any wrongdoing and said it was not necessary as it was a personal gift received before he became an MP.