Christopher Harborne, the ultra-rich political donor who has given £12m to Reform UK, has told The Guardian that he is “no longer” interested in a Reform-Tory deal before the next general election.
A possible collaboration between Reform and the Conservative Party had been an important aspect of donation discussions between Harborne and senior figures such as Nigel Farage, sources familiar with the talks said.
The Thailand-based cryptocurrency investor had previously wanted Farage to keep an open mind about a pact between the two sides, the same sources added.
However, this position has changed. Harborne said in an emailed statement: “In the past this may have been the case, but this is no longer the case.”
He also said he believed “cryptocurrencies should be regulated in the UK.”
Farage has openly advocated for wider adoption of cryptocurrencies in Britain, including in a meeting with Bank of England Governor Andrew Bailey last year. He said the central bank was “moving too slowly” on the matter.
The reform has promised to make the UK a “major hub” for cryptocurrencies and reduce capital gains to 10% from the base rate of 18% or the highest rate of 24%.
Harborne told the Guardian that Farage was “right” to say he had not asked for anything in return for his donations.
Harborne previously donated £10m to the Brexit party to fund its 2019 election campaign.
A significant portion of Harborne’s fortune comes from cryptocurrency investments. One of these bets was on Tether, in which it owns a 12% stake. It is now one of the most popular stablecoins in the world – a type of digital asset pegged to the US dollar. It also has a stake in Bitfinex, Tether’s sister exchange.
Harborne founded AML Global, an aviation fuel company, and is also a shareholder in QinetiQ, a British defense company. Born in the United Kingdom, he is also known by the Thai name Chakrit Sakunkrit and obtained citizenship of the country.
Harborne is known to be friends with George Cottrell, a close associate of Farage, whose family has also donated to the party. Harborne denied that Cottrell had played a role in his decision to donate and said any suggestion about it was “absolute nonsense.”
Harborne’s latest donation to Reform – £3m in November – was revealed on Thursday. He had previously donated £9 million in August, according to Electoral Commission data.
The donations have propelled Reform’s fundraising efforts well ahead of those of other major parties. In the final three months of last year, the party received £5.5m, compared with £1.9m for Labour, £2.4m for the Conservatives and £1.3m for the Liberal Democrats.
The reform tops political polls in the UK, but its popularity has waned somewhat; has fallen from a high of 29% in the fall of last year to 23% this month, according to voting intention data from the polling firm YouGov.
Harborne has also previously donated money to the Conservative Party and £1m to Boris Johnson’s private office after the former prime minister left the government.
The scale of Harborne’s donations to Reform has revived questions about whether there should be a limit on donations from individuals or companies. Senior Labor MPs also called for an urgent ban on political donations in cryptocurrency, after the Electoral Commission agreed to allow donations through this route.
According to Farage, Reform became the first party to accept digital currency donations in the fall.
