Harborne's voter registration may not circumvent planned donation cap
Christopher Harborne, the Thailand-based cryptocurrency investor who has given millions to Reform UK, is unlikely to circumvent a planned cap on overseas political donations despite registering to vote in the UK, according to sources familiar with the proposed legislation. The billionaire, who also gifted Nigel Farage £5m, has registered to vote in Hampshire, as reported by the Times, with a spokesperson stating he had decided to become a "registered voter in the UK."
Proposed cap targets British voters living abroad
The move could be interpreted as an attempt to bypass planned changes to the political donations system, which may impose a £100,000 annual cap on Britons based abroad and block cryptocurrency donations. However, the independent report by Sir Philip Rycroft, a former senior civil servant, published in March, recommended that a cap of between £100,000 and £300,000 per year apply to "British voters living abroad." The definition of this term remains undecided, but the report indicated it would be based on whether someone is normally resident in the UK, not merely registered to vote. Local election officials would determine residency status.
Harborne's residency and tax implications
Harborne, who has donated £15m to Reform in the past 12 months and gifted Farage £5m before the 2024 elections, has lived in Thailand for over five years, using the Thai name Chakrit Sakunkrit. To avoid the overseas donations cap, he might need to return to live in the UK, which would subject his estimated £18bn fortune to UK taxation. Rycroft's report linked taxation to donation fairness, noting that wealthy individuals living abroad to minimize UK tax contributions can still make unlimited political donations. Communities Secretary Steve Reed stated that the legislation would apply retrospectively from March, pending parliamentary approval, to protect UK democracy.
Farage's £5m gift under investigation
Harborne's donations gained prominence after the Guardian revealed in April that Farage received £5m shortly before announcing his candidacy in the 2024 general election. Farage claimed the money was a gift, exempt from declaration rules for MPs. He faces a formal investigation by the parliamentary standards watchdog. Initially stating the funds were for personal security, Farage later said it was a reward for Brexit. When questioned about spending, he retorted: "It's an unconditional gift. I can spend it on Ferraris if I want. I can put it on the horses."
Ongoing scrutiny and legal framework
Harborne's representatives have been contacted for comment. The proposed changes, among 15 recommendations, aim to close loopholes in political funding. The cap's implementation hinges on ministerial decisions and local council assessments of normal residency. The case highlights tensions between overseas donors' influence and democratic integrity.
