An analysis reveals that Nigel Farage's Reform U.K. party has raised £4.75 million, with a third stemming from former Conservative Party backers, signaling a shift in British right-wing politics.
Reform U.K. Party Gains Momentum with Significant Funding from Conservative Donors
Reform U.K. Party Gains Momentum with Significant Funding from Conservative Donors
Nigel Farage’s Reform U.K. has attracted financial backing from over a dozen former Conservative Party donors, significantly boosting its fundraising efforts.
Nigel Farage’s Reform U.K. party is making waves in British politics, having recently secured more than a dozen donors from the historical Conservative Party, according to a new analysis of campaign financing data. This rise in financial support showcases the growing threat that the right-wing populist party poses to traditional Conservative leadership.
In 2024, Reform U.K. raised an impressive £4.75 million ($6.1 million), a stark contrast to the previous year’s less than $200,000. Notably, approximately one-third of this funding originated from former Conservative supporters, highlighting a significant shift in allegiance. The New York Times’ scrutiny of Reform’s reported donations to the campaign finance authority provided this key insight into the party's financing landscape.
The largest donation registered last year emanated from Roger Nagioff, a previous Conservative contributor and former Lehman Brothers investment banker, who donated £100,000 in December. Other substantial donations included £1 million from a company linked to the party's deputy leader, Richard Tice, along with £500,000 from donor Fiona Cottrell. The influx of former Conservative donors began shortly after Farage, an outspoken supporter of Brexit and recognized disruptor in UK politics, assumed leadership just ahead of the July general election.
This new direction signals Farage's intent to recalibrate British conservatism by adopting a more right-leaning, nationalistic stance, positioned against what he deems the establishment and against immigration. As a result, Reform U.K. has recently outpaced the Conservative Party in national polling and has begun to make gains in local governance.
While the Labour Party remains the governing force with no election mandated until 2029, the current funding surge for Reform highlights Farage’s growing influence and the potential for his party to challenge both Labour and Conservatives in upcoming local elections set for May.
