Starmer presses Farage to explain £5m crypto gift as standards probe deepens
Government highlights new restrictions on overseas and cryptocurrency funding while parliamentary commissioner investigates whether the sum should have been declared.
Prime Minister Keir Starmer has publicly urged Reform UK leader Nigel Farage to answer persistent questions regarding a £5m personal gift received from Thailand-based crypto billionaire Christopher Harborne. The donation, which arrived in the months preceding Farage’s 2024 general election campaign, is currently under investigation by the parliamentary standards commissioner. During Prime Minister’s Questions on Wednesday, Starmer stated that the “£5m question still remains” and asked why the Reform UK leader was “dodging questions” and keeping the donation secret.
Starmer criticised Farage for altering his explanation for the gift, noting that he initially cited personal security costs before changing his account to describe it as a reward for Brexit campaigning. Farage has insisted there was no need to declare the funds to authorities because he was not an MP at the time. However, the standards commissioner is investigating whether the gift should have been registered, as rules stipulate that money received with relevance to an MP’s political life must be declared from up to a year before taking office.
The Prime Minister’s comments were made in response to a question from Liberal Democrat MP Roz Savage, who pressed Starmer on whether he would introduce a cap on political donations. The proposal has gained traction following reports that Harborne has donated record amounts to Reform UK, including more than £12m over the past year. Starmer declined to impose a cap on political donations but highlighted government measures including a moratorium on crypto donations and caps on overseas contributions to protect democracy from foreign influence.
Concerns regarding foreign influence extend to another crypto entrepreneur, Ben Delo, who has donated £4m to Reform UK. Data confirming this donation is expected to be published by the Electoral Commission on Thursday. Delo is expected to relocate from Hong Kong to the UK to continue donating to the party, potentially circumventing the new overseas donation caps. Starmer noted that these measures are designed to protect the political system from “dirty money” and foreign interference.
Amid the scrutiny, it was reported that Farage purchased a detached property in Surrey for £1.4m shortly after the Harborne gift was made. Farage claims this offer was made long before the donation and was paid for with his own private earnings. Meanwhile, Farage has reduced his media appearances and press conferences since the gift was first revealed by The Guardian, intensifying calls for transparency regarding the source and purpose of the funds.