Nigel Farage’s Reform U.K. party, which has positioned itself as a right-wing populist party modeled after President Trump’s MAGA movement, has garnered significant attention from donors previously associated with Britain’s Conservative Party. This influx of support highlights the growing threat Reform U.K. poses to the Tories. New data indicates that over a dozen donors from the Conservative Party have shifted their allegiance to Reform U.K., reflecting a substantial shift in political funding. In total, Reform U.K. raised 4.75 million pounds ($6.1 million) last year, a substantial increase from the less than $200,000 the party raised in 2023. A significant portion of this funding came from former Conservative Party donors, signaling a potential realignment in political support bases.
The New York Times conducted an analysis of every donation Reform U.K. reported to Britain’s campaign finance watchdog in 2024, offering the first comprehensive look at the party’s funding sources. The largest donation in the last quarter came from Roger Nagioff, a former Conservative donor and investor, who gave £100,000 in December. Other notable donations in 2024 included one million pounds from a company owned by Richard Tice, Reform’s deputy leader, and £500,000 from Fiona Cottrell.
The Conservative donor exodus began shortly after Farage took over as Reform’s leader last year, ahead of Britain’s July general election. Known for his role in campaigning for Brexit, Farage aims to redraft British conservatism with a nationalist, anti-establishment, and anti-immigration platform. Reform U.K. has made notable strides, surpassing the Conservative Party in national polls and gaining its first municipal seats. These developments, despite the Labour Party not needing to call a general election until 2029, highlight Mr. Farage’s momentum and the potential for Reform U.K. to further establish itself as a professional political force.
The Conservative Party’s loss of donors to Reform U.K. is a stark warning for the Tories, led by Kemi Badenoch. The shift indicates growing support for Reform U.K. among those who have traditionally backed the Conservatives, suggesting a significant political realignment is underway. Sam Power, a political finance expert at Bristol University, noted that the movement of donors from the Conservative Party to Reform U.K. should raise concerns within the Conservative Party’s headquarters, signaling a potential threat to their dominance.
The decision of conservative donors to support Reform U.K. reflects not only growing public interest in the party but also the donors’ increasing curiosity about Reform U.K.’s policies and prospects. The party’s donors include billionaires, individuals with offshore investments, those skeptical of climate change, and investors in fossil fuel industries, highlighting the diversity of support for Reform U.K.’s agenda.
Originally formed by Farage in 2019 as the Brexit Party, Reform U.K. won 14.3 percent of the vote in last year’s general election. However, recent polls have shown the party’s support surging to around 25 percent, at times surpassing both the Conservatives and Labour. This trend suggests that Reform U.K. is becoming an increasingly viable alternative to traditional political parties in the UK.
This is a developing story. Please check back for updates.
