Key facts
- UK ministers plan to tighten rules on political donations, including caps for recent UK movers and enhanced checks on corporate donors.
- Political candidates will be required to disclose donations above £2,230 for the first time.
- Nigel Farage is under investigation for failing to declare a £5m gift from crypto investor Christopher Harborne.
- Farage also faces scrutiny over undeclared support, including staff and property use, from crypto entrepreneur George Cottrell.
- The government intends to amend the representation of the people bill with these new donation regulations.
UK ministers are preparing to implement stricter regulations on political donations, aiming to enhance transparency and curb foreign influence in elections. The proposed measures include a one-year cap of £100,000 on donations from individuals who have recently moved to the UK, alongside enhanced checks on the legitimacy of corporate donors. Additionally, political candidates will be required for the first time to disclose donations exceeding £2,230, a rule that will also cover the period before they officially became candidates.
These changes come as Nigel Farage, leader of Reform UK, faces mounting pressure regarding undeclared benefits he received from crypto entrepreneur George Cottrell prior to becoming a Member of Parliament. Cottrell, who has a past conviction for wire fraud, reportedly provided staff, security, and the use of a mansion to Farage. Farage has registered two specific donations from Cottrell, but not other benefits or a £5m gift from crypto billionaire Christopher Harborne, arguing he was not obliged to declare them under parliamentary rules.
Parliament's rulebook requires MPs to declare gifts or benefits received in the 12 months before their election that relate to their parliamentary or political activities, with an exemption for purely personal benefits. Farage argues that the support he received was either purely personal or that he was not obligated to register it. The parliamentary standards commissioner is already investigating the £5m donation from Harborne, and opposition parties are calling for a further probe into the support from Cottrell.