Reform UK's £72m Donations and the Planned Cap on Expat Gifts

Reform UK's economic spokesman Robert Jenrick has said two donations totalling £72m to the party are "entirely in line with the law". He said he does not expect the party will have to return any of the money. BBC

Jenrick gave that defence on the BBC's Sunday with Laura Kuenssberg programme on 13 September. He said the money came from Ben Delo and Christopher Harborne. Each man gave £36m within two days. Together, the gifts share the record for the largest ever given to a UK political party.

Both donors are British citizens who have spent time living abroad. Both are described as cryptocurrency billionaires, people who made large fortunes from digital currencies. Jenrick said Delo has moved back to the UK in part to meet the requirements of donation law.

Ministers want to change the rules for donations from British citizens living abroad, known as expats. The plan includes a £100,000 cap backdated to 25 March. Anyone who moves back to the UK would be limited to £100,000 in donations in the year after their return.

The donation measures were added to the Representation of the People Bill after MPs approved them. They must still be examined in the House of Lords, the unelected second chamber which checks laws. Housing Secretary Angela Rayner would not say whether the proposed changes would apply to Delo and Harborne. She said the changes were "directly as a result of a review by Philip Rycroft published on 25 March".

That review is part of a wider tightening of the rules. Britain tightened its rules on overseas political donations as part of efforts to stop foreign money influencing elections. Reuters Nigel Farage's Reform UK raised more money than its main rivals for the third quarter in a row, helped by big donations. Reuters Britain will ban cryptocurrency donations to political parties following an independent review. Reuters Two senior aides to Reform UK leader Nigel Farage stepped down after an undercover investigation. Reuters

The broader context here is timing and backdating. For advisers to parties and donors, three narrow questions matter. What counted as an allowed donation on the date it was accepted. What a cap backdated to 25 March would do if it becomes law. And what the Lords will do with measures the Commons has already approved.

That leaves the immediate position unsettled for now. Jenrick's line is categorical. No breach. No repayment. Ministers have not said otherwise about these two gifts. Rayner would not be drawn on how the rules would apply. Until the Bill finishes its passage through Parliament, the legal test and the political argument stay open.

Looking beyond this case, the message for other party treasurers is familiar. Raise money early, keep clear records on residence and compliance, and prepare to be challenged whether or not the law changes. For ministers, the question is whether a backdated cap can get through Lords scrutiny without leaving long-running doubt over large gifts already received.