1.2 – Political parties
Earlier this month, it was announced that Reform UK had received a £9m donation from Christopher Harborne – a cryptocurrency investor. The donation is the single largest ever by a living person in British history.
The donation, which was made in August, appeared in the Electoral Commissions report on donations to parties for the third quarter of 2025. It represents more than a third of all the money donated during the reporting period. In total, Reform received over £10.2m in donations in Q3, whilst the established parties received around £8m between them.
The size of the donation will serve as a further sign of the seriousness with which people are taking Reform’s prospects. 2026, when they will compete in local elections in England, as well devolved elections in Scotland and Wales.
The Conservatives have been keen to point out that this donation should be regarded as a ‘one off’, and that they have raised more than Reform since the 2024 General Election as a result of greater ‘breadth and depth’ to their donor base. Whilst this may be true, it nonetheless serves as a reminder of the challenge that the Conservatives face on the right of British politics, and that this looks set to continue.
The size of the donation has, unsurprisingly, raised questions from other parties about what donors of this magnitude expect in return for their financial support. Whilst parties and donors deny any expectations exist, such donations are commonly used examples of why donations from wealthy individuals can undermine public trust in politics and political parties due to the appearance of being able to buy influence.
The news of the donation to Reform UK came amidst ongoing allegations from former contemporaries of Nigel Farage that he made racist and antisemitic comments whilst at school. Whilst Farage does not deny saying things at school which would be interpreted differently today, he has categorically stated that he ‘never directly racially abused anybody’, an assertion that a number of former pupils have since challenged.
At the same time, opinion polls have started to register a slight dip in support for Reform. This mirrors a slight growth in support for the Conservatives after Kemi Badenoch’s performances at the despatch box following the Budget. The most recent poll from YouGov puts support for Reform on 27% and a lead of 8pp, whilst polls in October and November regularly had their lead in double digits.