Britain’s elections watchdog is pushing for a change in the law that could prevent Elon Musk making an £80 million mega-donation to Reform.
The prospects of the world’s richest man putting his financial muscle behind Nigel Farage’s fledgling party intensified this week after the two men held talks at Donald Trump’s Mar-a-Lago resort in Florida.
Mr Farage yesterday confirmed that ‘the issue of money was discussed’ and said there would be ‘ongoing negotiations on that score’.
Musk is reported to be considering a donation of as much as $100million (£80million) to help build up Reform into a political machine capable of overthrowing Labour at a general election.
The multi-billionaire has been engaged in a public feud with Sir Keir Starmer since the summer after criticising his handling of the riots.
Mr Farage said the South African-born entrepreneur, who has emerged as Donald Trump’s right-hand man, viewed Labour and the Conservatives as a ‘uniparty’, adding that he ‘left us in no doubt that he is right behind us’.
As a foreign citizen Musk cannot donate directly to a political party in the UK. But a loophole in Britain’s election laws means he could give an unlimited sum via one of his companies based in the UK.
The Electoral Commission yesterday confirmed it is pushing ministers to tighten the law to limit companies to donating only funds that are generated in the UK.
Nigel Farage and Party treasurer Nick Candy during their meeting on Monday with with Elon Musk at Mar-A-Lago, the Florida home of US President Elect Donald Trump
The prospects of the world’s richest man putting his financial muscle behind Nigel Farage ’s fledgling party intensified this week
As a foreign citizen, Musk cannot donate directly to a political party in the UK. However, a loophole in Britain’s election laws means he could give an unlimited sum via one of his companies based in the UK
Chief executive Vijay Rangarajan said: ‘It’s crucial that UK voters have trust in the financing of our political system, so they need to see how parties and campaigners are financed and how they spend that money at elections.
Mr Rangarajan said officials were ‘discussing proposals with the Government’.
Downing Street said it was examining reform of electoral law, but it was not a priority for the current session of Parliament.
The PM’s official spokesman said Sir Keir was ‘committed to protecting democracy from the threat of foreign interference by strengthening the rules around donations’.