Reform’s £72million donations haul from a pair of crypto billionaires could be a poisoned chalice for Nigel Farage.
On paper it looks like a gift from heaven. A mammoth cash injection that could transform Reform’s electoral machine for whenever Andy Burnham decides to send the country to the polls.
To give a sense of the sheer scale of Reform’s windfall, some £94.5million was spent by all candidates and political parties in the 2024 general election campaign.
Despite the hype, Nigel Farage’s party remains a chaotic, shoe-string operation. It is behind its rivals in terms of its ground game – getting activists out knocking doors. Boots on the ground are a crucial part of winning elections.
Reform is already advertising for dozens of local organisers in key target areas across the country, which would allow them to start building a picture of their support far earlier than parties usually do for a general election.
The main parties have many more years of intel to build on. But MPs under threat from Mr Farage’s party in their patch will be uneasy about what it can do with this kind of head start.
Recent by-elections and local council elections have also exposed gaping issues with Reform’s candidate vetting, which they’ll now be able to throw money at. They will also be able to ramp up their advertising spend, and to flood social media with targeted pitches to voters.
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But there are also risks. Reform will want to start splashing cash quickly but they could be caught out if Andy Burnham decided to call an early general election. There are strict rules governing spending in the 12 months leading up to a general election – with a limit of roughly £34million across Great Britain.
Another downside for Reform is how this could look to voters. Taking millions of pounds from crypto billionaires sits awkwardly with Mr Farage’s man of the people schtick.
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There will now be a fresh row about donations rules, which will keep all the allegations and investigations facing Reform and Mr Farage at the top of the news bulletins.
It only adds to drumbeat of awkward questions about Reform and its leader’s finances, which may be contributing to unease among voters about the party.
A recent YouGov poll found 73% of Brits describe Mr Farage as sleazy, with 71% saying the same about Reform.
Reform could flood the airwaves and dominate social media with ads but there’s some publicity money can’t buy.