Reform UK's record £72m in donations from two crypto billionaires could be affected by a new bill with retrospective effect, a cabinet minister has indicated. The donations were made by Christopher Harborne and Ben Delo, who each gave £36m to the party.
The communities secretary, Angela Rayner, stated that the bill, which is due to go to the House of Lords this week, will include restrictions on foreign donors. These rules will cap donations from Britons living abroad or those who have returned to the UK within the past 12 months at £100,000 annually, with the changes backdated to March.
Harborne is a citizen of the UK and Thailand, while Delo recently moved back to Britain from Hong Kong. Reform UK has asserted that all donations comply with Electoral Commission rules and UK law, with a spokesperson stating both men are British citizens entitled to support political change.
The government has confirmed the rules will apply from either 25 March, the date the Rycroft review was published, or 6 July, the date the government announced its response to the review, depending on donor registration status.