Key facts
- Christopher Harborne, a crypto investor residing in Thailand, has donated £15 million to Reform UK in the past year.
- Harborne also made a £5 million gift to Reform leader Nigel Farage.
- Harborne has registered to vote in the UK, potentially as a way to navigate proposed donation regulations.
- New legislation aims to cap annual political donations from Britons living abroad at £100,000 and ban cryptocurrency donations.
- The proposed cap is expected to be based on UK residency rather than simply voter registration.
Christopher Harborne, a cryptocurrency investor based in Thailand, has made substantial donations to the UK political party Reform UK, including £15 million over the past year and a £5 million gift to party leader Nigel Farage. Harborne has recently registered to vote in the UK, a move that could be an attempt to circumvent proposed regulations on overseas political donations.
These proposed changes, stemming from a March report by Sir Philip Rycroft, aim to introduce an annual cap of £100,000 on donations from Britons living abroad and to block donations made in cryptocurrency. The report emphasizes that the basis for such caps would be residency in the UK, not merely being registered to vote. Decisions on an individual's residency status would be made by local election officials.
Harborne, who has lived in Thailand for over five years and uses a Thai name, Chakrit Sakunkrit, has expressed a desire to continue donating as he chooses. However, returning to live in the UK would subject his estimated £18 billion fortune to UK taxation. Rycroft's report highlighted the disparity where wealthy individuals minimizing their UK tax contributions can still influence British politics through large donations.
Steve Reed, the communities secretary, indicated that legislation reflecting these recommendations would be applied retrospectively from March. The £5 million gift to Farage, made shortly before the 2024 general election, has drawn scrutiny, with Farage stating it was an unconditional gift he could spend as he pleased. He is currently facing an investigation by the parliamentary standards watchdog regarding this matter.