Reform UK’s treasurer Nick Candy has claimed “a number of billionaires” are prepared to donate to Nigel Farage’s party, with tech entrepreneur Elon Musk set to be the first of many wealthy donors.
Candy, who recently defected from the Conservatives, promised British politics would undergo “disruption like we have never seen before” due to the incoming donations.
The property developer told the Financial Times he would “raise more money than any other political party” with funds earmarked for grassroots campaigning, data and polling.
He also made the bold prediction that Reform UK would surpass the Conservative Party’s membership numbers within just three months.
Nigel Farage met with Elon Musk in the US STUART MITCHELLEarlier this month, Farage and Candy met with Musk at Donald Trump’s Mar-a-Lago resort in Florida, sparking speculation about substantial financial backing.
“We have a number of billionaires prepared to donate to the party, not just Elon,” he told the Financial Times. Candy, who arranged the high-profile meeting, said the controversial Tesla boss would “be the first of many wealthy donors legally allowed to donate”, though he declined to name others.
The treasurer, who has already promised a “seven-figure sum” for Reform, claimed the party had “more Conservative values in its little finger than the Conservative party”.
“Even the big Tory donors are calling me,” he added. “A lot of people will join us. The movement has started.”
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Candy’s promises to boost Reform’s coffers by more than £40million ahead of the next General ElectionGetty Current rules preventing foreign donations mean Musk would need to channel any contribution through one of his UK-based businesses. Political parties can accept donations from individuals on the UK electoral register or UK-registered companies.
Musk’s UK subsidiaries have reportedly made around £90 million in profits over the past two years, potentially providing a legal avenue for donations.
“He wants to help us. He’s not opposed to the idea of giving us money, provided we can do it legally through UK companies,” Farage previously told the BBC.
Head of the Electoral Commission, Vijay Rangarajan, has called for the rules to be strengthened to “protect the electoral system from foreign interference.”
Conservative leader Kemi Badenoch has downplayed the likelihood of Musk getting involved with Reform
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Commons Leader Lucy Powell said any proposals to change donation rules would not come until next year.
Speaking to Sky News’s Sunday Morning With Trevor Phillips, she indicated an Elections Bill would “probably” come in the next parliamentary session, including measures “making sure that the issues around donations are fair and robust”.
Shadow cabinet minister Kevin Hollinrake said he would not seek to block Musk making a donation, though suggested he would prefer him to back the Conservatives.
He said: “I have great faith in the British public. I don’t think the British public could be easily bought.”
Conservative leader Kemi Badenoch also downplayed the prospect of a Musk donation, saying “I don’t think he’s actually giving them anything.”