Donation cap proposal threatens Reform UK's financial dominance
A proposed £100,000 cap on political donations would strip Reform UK of 85% of its income, threatening the financial foundation of Britain’s fastest-growing political force ahead of a parliamentary vote.
Reform UK would have retained just 15% of its £26.7m in registered donations between April 2025 and March 2026 under a proposed £100,000 annual cap, according to an analysis of Electoral Commission data by Friends of the Earth. The finding underscores the party’s structural reliance on a small number of ultra-wealthy backers as parliament prepares to vote on the measure this week.
Under the cap, Reform’s income would fall to £4.1m, stripping it of its status as Britain’s best-funded party. Labour would retain £8.1m, the Conservatives £8.3m and the Liberal Democrats £5.2m. For businesses tracking regulatory risk, the shift matters because Reform’s rising political influence—and its platform to scrap climate regulations and expand oil and gas drilling—is directly underpinned by this concentrated wealth.
The data shows Reform received £20.4m from donors giving at least £1m each, compared to £3.1m for the Conservatives and £2.6m for Labour. Two billionaires, Christopher Harborne and Ben Delo, accounted for 71% of Reform’s declared income. Harborne, Britain’s sixth-richest person who lives in Thailand, contributed £15m.
Labour MP Stella Creasy is expected to table the £100,000 cap amendment on Tuesday during the report stage of the representation of the people bill. Harborne has previously indicated he would challenge any donation cap in court, signalling potential legal turbulence if the amendment passes.
The proposal has fractured the governing Labour Party. The GMB, one of Britain’s largest unions, instructed its affiliated MPs to vote against the cap, arguing trade union payments—funded by hundreds of thousands of members—should not be equated with individual wealth. Party whips have been pressuring MPs to follow the union’s line.
A Reform spokesperson defended the current system, stating that a cap “would simply restrict political participation while entrenching the established parties, which benefit from longstanding institutional funding networks.” Asad Rehman, chief executive of Friends of the Earth, countered that when parties rely on fossil fuel interests, “it undermines trust that decisions are being made in the public interest.”
The government has focused its legislative efforts on foreign interference rather than domestic donation limits. A government spokesperson pointed to existing measures in the bill, including caps on overseas electors and a ban on cryptocurrency donations.
