Nigel Farage's Reform U.K. party sees a significant increase in funding, particularly from former Conservative Party donors, as it threatens the stability of the traditional right-wing political landscape.
Surge of Conservative Donors Fuels Reform U.K.’s Rise
Surge of Conservative Donors Fuels Reform U.K.’s Rise
Analysis reveals substantial financial backing for Nigel Farage’s populist movement from traditional Tory supporters.
Article text:
Nigel Farage's Reform U.K. party has gained remarkable traction, drawing financial support from over a dozen prominent donors associated with Britain's Conservative Party. This development emphasizes the challenges the Tories face from this emerging populist faction, which echoes the sentiments of former President Donald Trump's MAGA movement.
In 2024, Reform U.K. raised an impressive £4.75 million (approximately $6.1 million), a stark rise from the mere $200,000 the party reported in the previous year. Notably, one-third of this amount originated from former Conservative supporters. The New York Times conducted a thorough analysis of campaign finance data, reviewing contributions reported to Britain's campaign finance authority to assess the funding landscape for the party.
The largest single contribution documented in late 2024 was a £100,000 donation from Roger Nagioff, a previous Conservative benefactor and former banker with Lehman Brothers. Additional significant donations included £1 million from a business owned by Richard Tice, Reform's deputy leader, along with a £500,000 contribution from Fiona Cottrell. The shift away from the Conservative Party began following Mr. Farage's ascension to leadership of Reform U.K. last year, just ahead of Britain's July general elections.
Farage, known for his controversial political style and former advocacy for Brexit, is determined to rejuvenate British conservatism, steering it towards a more nationalistic and anti-establishment direction, while also emphasizing anti-immigration policies.
Recent polling data show Reform U.K. gaining traction, surpassing the Conservative Party in public support, and making inroads to secure its first local governmental seats. With the Labour Party not scheduled for a general election until 2029, the fundraising success of Reform U.K. signals a strong momentum for Farage's party as it eyes challenges against major parties in the upcoming local elections this May.
Nigel Farage's Reform U.K. party has gained remarkable traction, drawing financial support from over a dozen prominent donors associated with Britain's Conservative Party. This development emphasizes the challenges the Tories face from this emerging populist faction, which echoes the sentiments of former President Donald Trump's MAGA movement.
In 2024, Reform U.K. raised an impressive £4.75 million (approximately $6.1 million), a stark rise from the mere $200,000 the party reported in the previous year. Notably, one-third of this amount originated from former Conservative supporters. The New York Times conducted a thorough analysis of campaign finance data, reviewing contributions reported to Britain's campaign finance authority to assess the funding landscape for the party.
The largest single contribution documented in late 2024 was a £100,000 donation from Roger Nagioff, a previous Conservative benefactor and former banker with Lehman Brothers. Additional significant donations included £1 million from a business owned by Richard Tice, Reform's deputy leader, along with a £500,000 contribution from Fiona Cottrell. The shift away from the Conservative Party began following Mr. Farage's ascension to leadership of Reform U.K. last year, just ahead of Britain's July general elections.
Farage, known for his controversial political style and former advocacy for Brexit, is determined to rejuvenate British conservatism, steering it towards a more nationalistic and anti-establishment direction, while also emphasizing anti-immigration policies.
Recent polling data show Reform U.K. gaining traction, surpassing the Conservative Party in public support, and making inroads to secure its first local governmental seats. With the Labour Party not scheduled for a general election until 2029, the fundraising success of Reform U.K. signals a strong momentum for Farage's party as it eyes challenges against major parties in the upcoming local elections this May.
