Surge in Funding for Reform U.K. Signals Major Shift in British Politics

Nigel Farage’s Reform U.K. has raised £4.75 million, drawing over a dozen donors from the Conservative Party. With a striking rise in financial backing, the party's national polling gains reflect a growing challenge to the mainstream political order ahead of local elections.

Nigel Farage, known for his role in the Brexit movement, has been at the helm of Reform U.K., a nascent political party channeling right-wing populism reminiscent of Donald Trump's MAGA campaign. Recent campaign finance data analyzed by The New York Times shows that Reform U.K. attracted substantial contributions, raising a total of £4.75 million ($6.1 million) last year, a dramatic rise from under £200,000 in the previous year.

A surprising twist is that over a third of these funds are from former Conservative Party backers, signaling a fracturing within the party. The most notable donation recorded was £100,000 from Roger Nagioff, a past Conservative backer and banker. Other notable contributions included £1 million from a company connected to Reform's deputy leader Richard Tice, and an additional £500,000 from Fiona Cottrell.

The shift towards Reform began after Farage took leadership in 2024, aiming to reshape British conservatism by adopting a more nationalistic, anti-establishment, and anti-immigration stance. As Reform U.K. gains momentum, it has surpassed the Conservative Party in various national polls and secured its first municipal seats.

While the Labour Party does not anticipate a general election until 2029, the rising financial support for Reform showcases the party's potential to challenge the traditional political framework in upcoming local elections this May. As Farage continues to rally his supporters and consolidate resources, the dynamics of British politics appear to be in a state of transformation.