Labour could move to cap political donations after two overseas-based crypto billionaires gave a record £72 million to Reform UK, Angela Rayner has indicated.
Christopher Harborne, who is based in Thailand, and Hong Kong-based Ben Delo each donated £36 million to Nigel Farage’s party within 24 hours. The combined sum is the largest political donation in British history.
Ms Rayner described party funding as a “live issue” and said those who neither paid tax nor lived in the UK should not be able to buy influence in British democracy.
Speaking to Sky News, she said: “We are saying that if you don’t pay tax here and you don’t live here you cannot buy your way into our democracy because you are a billionaire.
“It’s a really live question for us about making sure our democracy is about the people having the choice and not about people with billions being able to buy their way in.”
Legislation currently before Parliament would limit donations from abroad to £100,000. However, both Mr Harborne and Mr Delo are registered as UK voters, allowing their contributions to be made legally.
Mr Farage said the donations had been made upfront to circumvent any attempt by Labour to impose a cap and to accelerate Reform’s efforts to build a political organisation capable of rivaling Labour and the Conservatives.
Reform has said the two donors want “nothing” in return for their money. The party said neither man would receive a knighthood, a peerage or a government contract if it came to power.
Mr Harborne described his donation as “a philanthropic gift to our country” intended to help Reform prepare for government. He has also given £5 million directly to Mr Farage, whose failure to declare the gift has led to an investigation by the Parliamentary Standards Commissioner.
Mr Delo, who was pardoned last year by Donald Trump after being convicted of violating the US Bank Secrecy Act, said his contribution was intended to create a “level playing field” for Reform against the other parties.
Prime Minister Andy Burnham has declined to support a backbench proposal to extend tighter donation rules to contributions made in the UK, amid opposition from unions that provide financial backing to Labour.
