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Nigel Farage is facing a formal investigation by the parliamentary standards watchdog over a £5m gift from the crypto billionaire Christopher Harborne.
The Reform UK leader received the money weeks before announcing he would stand as a candidate in the 2024 general election.
Farage has said the gift, first revealed by the Guardian, was intended to cover his personal security costs and therefore did not need to be declared.
The parliamentary commissioner for standards is understood to have begun an investigation under rule 5 of the code of conduct obliging MPs to “fulfil conscientiously” requirements relating to their registration of interests.
It states that new MPs must register all their current financial interests, and any registrable benefits – other than received in the 12 months before their election – within one month of their election, and Members must register any change in those registrable interests within 28 days.
However, Labour and other parties argue that MPs are required to declare any potentially relevant gifts or donations received in the 12 months before entering parliament, and that the money from the Thailand-based Harborne falls within these rules.
If the investigation finds Farage committed a particularly serious breach of parliamentary declaration rules, he could be suspended from the Commons. A suspension of 10 days or more could trigger a recall petition, potentially forcing him to fight again for his Clacton seat.
A Reform UK spokesperson said: “Mr Farage’s office is in communications with the parliamentary commissioner for standards. He has always been clear that this was a personal, unconditional gift and no rules were broken. We look forward to this being put to bed once and for all.”
On Sunday, Reform’s deputy leader, Richard Tice, said the £5m gift was “probably not enough” to ensure Farage’s safety. He told the BBC’s Laura Kuenssberg: “The rules are very clear and Nigel has complied with the rules.”
Anna Turley, the chair of the Labour party, said after news of the standards inquiry broke: “Nigel Farage has been avoiding legitimate questions since news of his billionaire backer’s ‘gift’. It’s right that he faces a proper investigation. Farage and Reform clearly believe it’s one rule for them, and another for everyone else.”
