Reform UK secures £9m in Q1 donations, outstripping major parties

Reform UK has raised £9m in private donations during the first three months of 2026, significantly outstripping the funding totals of both the Labour and Conservative parties. According to data released by the Electoral Commission, each of the two major parties raised approximately £4m in the same period, meaning Reform UK’s intake was more than double that of its traditional rivals. The overall sum of £24.7m accepted by all political parties in the first quarter represents more than double the amount recorded in the previous year.

The majority of Reform UK’s funding was sourced from cryptocurrency investors. The party received a £4m donation from Ben Delo, a cryptocurrency entrepreneur relocating to the UK from Hong Kong, and a £3m contribution from Christopher Harborne, a British-Thai dual citizen and aviation investor. Together, these two donations account for a third of all private money flowing into British politics during the quarter. Harborne’s contribution brings his total donations to the party to £15m over the last year, while Delo is recorded as a first-time donor.

Additional contributors to Reform UK included David Grainger, an investor in health and longevity, who donated £1m. Navroz Udwadia, co-founder of the investment firm New Wave Global, also emerged as a new donor. Furthermore, a company owned by Paul Mackings, who serves as Reform’s leader on South Tyneside council, donated £111,000 to the party.

In contrast, the Conservative Party’s coffers were boosted by a £1.1m donation from Mary V Doran. Labour’s largest contributors remained its regular donors, including David Sainsbury and Gary Lubner, alongside major trade unions. The stark disparity in funding highlights a shift in the political finance landscape, with Reform UK leveraging new wealth sources to surpass established parties in quarterly fundraising.

The figures have intensified scrutiny on political financing, with anti-corruption campaigners calling for stricter donation caps. Susan Hawley, executive director of the Spotlight on Corruption campaign group, stated that the data exposed the scale of big money in British politics and raised serious questions about access and influence. Hawley warned that opaque corporate structures and wealthy individuals playing an outsized role in financing democracy risk undermining public trust.

In response to the growing concerns, the government has announced plans to limit overseas donations and impose a moratorium on cryptocurrency contributions. Keir Starmer was pressed to introduce a general cap on donations but reiterated the administration's focus on these specific restrictions. Jackie Killeen, director of regulation at the Electoral Commission, noted that while the UK system maintains high transparency, parts of the regime require strengthening. She highlighted that the government’s proposed reforms in the representation of the people bill could enhance donation controls to ensure voter confidence.