Key facts
- Reform UK received a 36 million pound donation from crypto billionaire Ben Delo.
- The donation is larger than Labour's and the Conservatives' entire 2024 election budgets.
- Ben Delo received an unconditional pardon from US President Donald Trump for violating the Bank Secrecy Act.
Reform UK has received a significant donation of 36 million pounds from crypto billionaire Ben Delo, a sum that dwarfs the election budgets of the two major parties. This substantial contribution could reshape political funding in the UK, coming at a time when both Labour and the Conservatives appear to be finding a renewed sense of purpose in a traditional red-versus-blue political dynamic.
A senior figure involved in election campaigns described the donation as 'gobsmacking,' noting it is larger than Labour's entire 2024 election budget and about six times what Reform spent in the last general election. The scale of the donation, from a figure who received an unconditional pardon from US President Donald Trump for violating the Bank Secrecy Act, is unprecedented in UK politics.
Meanwhile, within the Conservative party, there is a sense of optimism as a cabinet minister noted a 'clear gap' in values and purpose between the Tories and Labour, suggesting a return to more straightforward political contests. A member of Kemi Badenoch's top team expressed hope for a more routine political moment after years of 'craziness.'
Labour, too, seems buoyed by a perceived shift, attributing it partly to a more effective leader in Keir Starmer and the arguments being made by figures like Andy Burnham, which resonate with the party's psychology. Sources suggest Burnham's pragmatism and clear worldview are seen as a significant improvement. However, some within the Conservative party question how long Labour's current happiness will last, likening Burnham's appearance to a 'Tinder date' that doesn't match the profile picture.
Despite the apparent return to a two-party focus, the article cautions against assuming this trend is permanent. The significant financial injection into Reform UK, coupled with potential future donations from wealthy individuals, could disrupt the political landscape. The article also touches on the difficult choices facing the government regarding public spending, particularly welfare cuts, and the challenge of funding ambitious promises like building council houses.