How three donors made Reform cash rich in 2025

Reform UK’s income surged by £21m in 2025, transforming it into the best-funded political party in the country last year, and outstripping the Conservatives in money raised. Fuelled by staggering donations from a handful of donors, including Thai-based crypto billionaire Christopher Harborne, Reform ended 2025 with £10.2m in the bank – more than any other political party. Party accounts published by the Electoral Commission showed that in total Reform raised £31,862,420 in the 2025 calendar year. This is more than the £30,942,000 raised by the Conservative Party. And while less than the Labour Party’s mammoth £45,012,000, Reform spent less, leaving them with £10m in the bank while Labour were £2m in debt. Shorts Increases in fundraising, merchandise sales and membership fees also contributed to Reform’s reported income boost, up from £10.8m in 2024. Reform is facing a test at the polls later this month, after Farage triggered a by-election in his constituency of Clacton. Both he and his party have come under mounting scrutiny over donations and support. The party leader is the subject of a parliamentary standards inquiry over a £5m gift from Harborne, which he says is a private donation to pay for his security. A criminal investigation has also been launched into undeclared donations to the party while questions have been raised over loans by deputy leader Richard Tice in 2024, and donations by Fiona Cottrell, the mother of Farage aide and convicted fraudster George Cottrell, with allegations he was the source of the money, given in 2024. £13.2m from three donors A key factor in Reform’s newly deep pockets was a spike in donations, with the party enjoying £22.9m of declared donated funds, a £17m rise on 2024. More than half of last year’s donations came from just three individuals. Harborne donated £12m – £9m in August 2025 and £3m in November. He gave another £3m which was logged in January this year and will appear in next year’s accounts. The billionaire has been a regular donor to the party, with DonationWatch reporting that he has gifted £25.2m to Reform over the years. Two other major donors stand out in the Electoral Commission register: Fiona, who donated £250,000 in February 2025 and whose crypto businessman son, known as “Posh George”, has funded Farage’s office and security staff. Scotland Yard launched an inquiry in January 2025, after a referral from the Electoral Commission, into two donations amounting to £500,000 from the aristocrat mother in May 2024. Its investigation is focused on alleged evasion of restrictions on donations at the 2024 election, either through concealing donations from an “impermissible” donor or using false information about a donation. Reform denies wrongdoing and maintains it follows electoral law. The third notable donor is Nick Candy, party treasurer, who donated a total of £990,000 in a number of instalments across 2025. While Reform’s donations last year rose by 290 per cent from £5.9m in 2024, the other main parties saw a significant drop. Donations declared by the Conservatives dropped from £28.1m to £15m, while Labour’s accounts show donations fell from £39.4m to £6.5m. As 2024 was an election year, where parties would expect to see a boost in fundraising and donations, these drops are not unusual. “The publication of party financial accounts reveals the extent to which some parties are reliant on a small number of major donors,” Juliet Swann, nations and regions programme manager at Transparency International, said. “People already think influence of wealth in politics is worrying, a system where millions of pounds comes from just a handful of individuals risks further undermining confidence that political influence is open and fair.” Money in the bank While Reform enjoyed an 195 per cent increase in income last year, the Conservatives and Labour did not enjoy the same boost. Despite Labour pulling in more money than Reform, eye-watering expenses meant Labour declared a £2.6m deficit in their accounts, with a £37m spend on running costs as part of total expenditure hitting £47.6m. The Conservatives scraped a surplus of £2.56m. Restore Britain did not supply accounts as it did not become a registered political party until February 2026. Reform’s accounts also show that the opening of a new membership office, believed to be based in the East Midlands, contributed to office costs rising from £2.6m to £8.9m. This figure does not include staff costs, which also rose from £740,000 to almost £3m. Their report, submitted and published by the Electoral Commission, also reveals the party is facing a number of legal battles, including providing an indemnity to an unnamed third party. No money has been set aside to settle any legal losses. Reform UK has been contacted for comment.