Christopher Harborne has donated £15 million to Reform UK over the last 12 months. The British crypto investor, who has been based in Thailand for over five years, also gave Nigel Farage a £5 million gift.

Harborne has registered to vote in Hampshire. A spokesperson for Harborne stated that he decided to become a registered voter in the UK. In an April interview, Harborne said, "Where there's a will, there's a way."

Planned changes to the political donations system could introduce a £100,000 annual cap on donations from Britons living abroad. Measures being considered also include blocking donations made in cryptocurrency.

An independent report published in March by Sir Philip Rycroft included 15 recommendations concerning political donations. Rycroft's report suggested a cap of between £100,000 and £300,000 per year for British voters residing abroad. The report indicated that the cap's basis is expected to be whether an individual is based in the UK, rather than solely on their voter registration status. Decisions regarding whether a voter is normally resident in the UK for electoral register purposes are made by election officials at local councils.

Sir Philip Rycroft wrote in his report, "Though many individuals' decisions to move abroad are not financially motivated, it remains the case that wealthy individuals who have chosen to live abroad in order to have their wealth taxed abroad are nevertheless currently entitled to make unlimited donations to UK political parties." He added, "Despite choosing to minimise their contribution to the UK exchequer, these individuals have the opportunity to make potentially gamechanging donations into British politics." Steve Reed, the communities secretary, stated that legislation on political donations would be applied retrospectively from March, pending parliamentary approval.

Why It Matters

Christopher Harborne's donations to Reform UK and Nigel Farage precede potential changes to the UK political donations system. An independent report has outlined recommendations, including a cap on donations from British citizens living abroad, directly affecting individuals like Harborne who reside outside the UK.

The proposed legislative changes, which involve applying new rules retrospectively from March, indicate an effort to regulate large donations from individuals not primarily based in the UK. These potential reforms aim to address concerns about the influence of financial contributions from overseas residents on British politics.