Ministers have not ruled out imposing a cap on political donations after two cryptocurrency billionaires gave Reform UK a combined £72 million, Labour’s deputy leader said.
Government reviewing options
Angela Rayner told the BBC that the Government had asked officials to examine how limits might operate, leaving open the possibility of fresh measures to restrict large gifts. The statement follows twin donations of £36 million from Ben Delo and Christopher Harborne to Reform UK, which have renewed debate over party funding rules.
Ms Rayner, speaking on the BBC’s Sunday With Laura Kuenssberg programme, said it was not a simple binary decision to ‘not put a cap’. She added ministers were concerned about potential loopholes and wanted to prevent wealthy individuals from "overpower[ing] and buy[ing] their way into democracy," attributing the comments to the broadcast.
“It’s not as simple as we’re saying we won’t put a cap.”
Retrospective rules and returns
The deputy leader also indicated that forthcoming rules on overseas donations could be applied retrospectively to cover gifts made since 25 March. Those proposals, based on a review by former civil servant Philip Rycroft, would limit donations from overseas electors to £100,000 per year and include a provision requiring recipients to return money that does not comply.
Ms Rayner said such retrospective action would give recipients 60 days to return non-compliant funds. She was at pains to state she did not claim knowledge of the individual circumstances of donors, but described the scope of the proposed retrospective measure as applying from 25 March, citing her interview.
How the donations were made
According to reporting, Mr Delo has been resident in Hong Kong but has said he intends to return to the UK to avoid restrictions on overseas donors; Mr Harborne is based in Thailand. The two donations — each of £36 million — were made within a short span, prompting calls across parties for tighter regulation of large gifts.
| Donor | Amount | Base |
|---|---|---|
| Ben Delo | £36 million | Hong Kong (has said he will return to UK) |
| Christopher Harborne | £36 million | Thailand |
- Policy focus: Government reviewing how a donations cap might work.
- Retrospective action: New rules could apply from 25 March and include 60-day return periods.
- Public concern: Rapid, large gifts have amplified calls for reform of party funding.
Parliamentary context and next steps
The Government recently rejected amendments to the Representation of the People Bill that would have capped donations at £100,000 per donor per year, a move that had been supported previously by some senior Labour figures including Andy Burnham, according to reports. Ministers have since instructed officials to explore the practicalities of a cap, and Ms Rayner signalled the door remains open for further legislative change.
Reform UK’s economic spokesman Robert Jenrick has commented publicly that his party does not accept it was in breach of current rules; reporting indicates Reform maintains the donations comply with existing law. The questions for ministers are procedural: whether a cap can be framed to avoid circumvention and how retrospective application of new rules would stand up legally.
Any proposal to introduce or backdate limits on donations would be politically sensitive and legally complex. It would touch on definitions of "permissible donor", residency tests and the interaction between party funding rules and broader election law. Officials’ work will be watched closely by opposition parties, campaign groups and parliamentary committees concerned with electoral integrity.
For now, ministers have signalled active consideration rather than a definitive policy shift. The sequence of events — substantial donations followed by government review and talk of retrospective measures — is likely to sustain pressure for a clearer statutory framework regulating large political gifts.
