finance
Farage Resigns as MP and Campaigns to Regain Clacton Seat in By-Election
Reform UK leader Nigel Farage resigned his Clacton seat on July 7 and seeks to regain it amid ongoing probes into 30 million pounds in donations from cryptocurrency billionaire Christopher Harborne. Other major parties have declined to contest the by-election.
Jul 21, 4:51 AM·1m read1 source
Al JazeeraAudio version
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Nigel Farage resigned as member of parliament for Clacton on July 7 and immediately began campaigning to win the seat back in a by-election. The move follows disclosure of an undeclared personal gift of 5 million pounds from cryptocurrency billionaire Christopher Harborne, received before Farage entered parliament, in addition to 25 million pounds given directly to Reform UK.
Al Jazeera reported that criminal and parliamentary investigations into the donations remain active as of July 21.
Farage has stated the personal payment was a gift he could spend without restriction and has denied any improper influence from Harborne. All other leading UK parties have refused to field candidates against Farage in the by-election, leaving satirical candidate Count Binface as his main opponent. Reform UK’s candidate lost the separate Makerfield by-election to new Prime Minister Andy Burnham.
Farage used a September meeting with Bank of England Governor Andrew Bailey to oppose the central bank’s plans for a digital pound. The Bank of England has stated no decision has been taken on whether to proceed with the project. Harborne’s company Tether has faced accusations, disputed by the firm, of links to drug cartels, fraud and human trafficking.
A 2024 United Nations Office on Drugs and Crime report identified Tether as the preferred cryptocurrency for money launderers in Southeast Asia. Reform UK currently holds roughly 20 percent of the British vote, according to Sam Power of the University of Bristol.
