Danny Kruger drew laughter from the Question Time audience when he said two billionaires who had given Reform UK £72 million would receive “nothing” in return.
An audience member asked whether the donations, £36 million each from Ben Delo and Christopher Harborne, were a threat to democracy. Kruger defended the gifts.
“I think that it’s an admirable thing that these two men, who will get nothing for it, no peerage, no policy,” he said. The audience laughed. Kruger continued: “They are not getting anything for it.”
Conservative MP Joy Morrissey called out: “We believe you!”
You can watch the exchange here.
Or a longer version here:
Who gave Reform £72 million?
Delo, a co-founder of cryptocurrency exchange BitMEX, announced his £36 million donation first. He had previously given Reform £8 million. Explaining the latest gift, he said he wanted the party to spend less time raising funds and more time preparing for government. Delo pleaded guilty in the US to a banking law violation concerning anti-money-laundering controls and was later pardoned by Donald Trump.
Harborne matched Delo’s £36 million gift the following day. He had already donated £15 million to Reform. He also gave Nigel Farage a separate £5 million before Farage became an MP. That gift is the subject of a parliamentary standards investigation over its declaration; Farage denies wrongdoing.
Harborne addressed the question of what he wanted from the party when he announced his donation: “Nothing. No peerage, no policy change, just a party that is ready for government.” He said he was backing the party he believed could improve Britain for his children and grandchildren. Reform says both donations comply with electoral law.
Farage said he was “honoured and humbled” by the gifts. Reform plans to use the money to hire about 400 campaign managers in target constituencies. More than 60 party jobs were being advertised this week, although some Reform activists have criticised the emphasis on paid managers over volunteers.
Reform’s cryptocurrency proposals
The donors’ businesses have also brought attention to Reform’s existing cryptocurrency policy. The party proposes cutting capital gains tax on crypto assets to 10%, from rates of 18% or 24% depending on the taxpayer. It has proposed a Bitcoin reserve at the Bank of England. Those proposals predate Delo’s and Harborne’s latest donations.
An analysis of HMRC figures commissioned by Labour estimated that Reform’s proposed tax rate would save the 240 people who reported more than £1 million in crypto gains in 2024–25 more than £100 million a year collectively. It did not calculate a saving for either donor.
Reform defended its policy, saying it was calling for cryptocurrency regulation and consumer protection. Kruger’s answer on Question Time was more categorical: neither man, he told the audience, would get a policy or a peerage for his money.
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