Key facts
- Nigel Farage admitted to discussing his potential return as Reform UK leader in spring 2024.
- He stated these discussions were about potential liabilities associated with the leadership role.
- Farage previously claimed he had no intention of returning to politics until shortly before the June 2024 general election.
- The House of Commons code of conduct mandates registration of benefits received in the 12 months prior to election.
- An inquiry into Farage's undeclared £5 million gift is ongoing.
- Reform UK reportedly agreed to repay over £1 million in loans as part of the deal.
Nigel Farage has admitted to holding discussions about returning as the leader of Reform UK months earlier than previously stated, potentially impacting the circumstances surrounding a £5 million gift he received from crypto billionaire Christopher Harborne. Farage previously claimed he had no intention of returning to politics until just before the 2024 general election and therefore did not need to declare the gift or benefits-in-kind from convicted fraudster George Cottrell, as per House of Commons code of conduct rules requiring registration of benefits received in the 12 months prior to election.
At a press conference, Farage stated that in the spring of 2024, he spoke with then-Reform leader Richard Tice about the potential liabilities if he were to reassume the leadership. The Sunday Times reported that these negotiations, which occurred in March and April 2024, involved Reform agreeing to repay or write off over £1 million in loans to Tice's company. Farage defended these inquiries as prudent, stating one would be a "mug" not to ascertain potential liabilities.
An inquiry by parliament's standards watchdog into whether Farage breached rules by accepting and not declaring the £5 million gift is currently paused. This pause follows Farage triggering a by-election by standing down as the MP for Clacton. Bridget Phillipson, chair of the Labour party, criticized Farage's statements, suggesting they create a "gaping hole" in his excuse for not declaring the gift and urging him to be transparent.