Nigel Farage lashes out as Reform's £72m fund is threatened by watchdog's review of election spending rules

Britain's elections watchdog could slash political spending limits as part of a Government-commissioned review amid Reform UK's £72million donations windfall.Vijay Rangarajan, the chief executive of the Electoral Commission, said he is looking at whether current rules on spending by political parties are 'fit for purpose'.It comes after Reform received twin record-breaking £36million donations from crypto-billionaires Ben Delo and Christopher Harborne earlier this month.The mega donations have sparked fresh scrutiny of political funding in the UK, with Mr Rangarajan saying voters need to be assured elections are contested on a 'level playing field'.His review will look at current spending limits, reporting requirements for donations, and the amount that can be spent between designated election periods.The review was first commissioned by the Government in July, with Labour ministers Angela Rayner and Louise Haigh having written to Mr Rangarajan last month to express their view that current spending limits are 'too high' and ought to be cut.Britain's elections watchdog could slash political spending limits as part of a Government-commissioned review amid a £72million donations windfall for Nigel Farage's Reform UKUnder existing restrictions, parties standing candidates in Britain must not spend more than £34million in the year before a general election.As he faces the prospect of the impact of Reform's mega-donations being blunted, party leader Nigel Farage said: 'Once again our dishonest Government is trying to change the rules to stop Reform. They are the most anti-democratic British Government ever.'The Electoral Commission is required to uphold political impartiality and will give recommendations from its review in July next year. Mr Rangarajan told the Sunday Times: 'Trust in elections depends on people believing that the rules are fair and transparent, and how much parties and campaigners can spend is a significant part of that picture.'Funding is essential to democratic participation and political debate, but the framework must give voters confidence that our elections are being contested on a level playing field.'He added: 'Our review will look across the campaign spending framework as a whole, including spending limits, the interaction between party and candidate spending, and the reporting requirements that support public confidence in the system.'Campaigning has changed significantly in recent years, and a significant amount is spent between election periods, so it is right that we examine whether the current arrangements remain fit for purpose.'Mr Farage has previously criticised Government plans to retrospectively apply a £100,000 cap on contributions from overseas donors.Mr Delo and Mr Harborne have been based in Hong Kong and Thailand respectively, though they are reported to have already returned to the UK. Reform has insisted their donations are in line with both current rules and planned restrictions on money from donors based abroad, which would also apply for the first 12 months after expats come back to Britain.The party has also accused Labour of 'hypocrisy' over the huge sums it receives from trade unions.In their letter to Mr Rangarajan on 29 August, prior to Reform's £72million windfall, Cabinet duo Ms Rayner and Ms Haigh wrote: 'We have to limit the way financial power can end up dominating political power, to get to a politics that works for all people in all places.'We believe spending limits on parties and candidates are too high, and ought to be reduced.'It comes as new research suggests Reform could lose half its projected seats if Restore Britain, led by Great Yarmouth MP Rupert Lowe, stood candidates in every constituency at the next general election.Polling this month forecast that Reform would end up with 108 MPs after a general election, but an analysis found this could fall to 59 if Restore contested every seat.The research, commissioned and funded by consultancy Public First, found Labour would be within touching distance of a House of Commons majority with 316 MPs if there was a widespread Restore presence at the ballot box.Mr Lowe was initially elected to Parliament as a Reform MP at the 2024 general election but left the party last year amid a furious row with Mr Farage and other senior Reform figures.He went on to found Restore and has since seen his outfit secure a significant portion of the vote at the Makerfield by-election in June, as well as August's contest for Greater Manchester mayor.