United Kingdom: Farage resigns as MP, to stand in a by-election
A bold move for Nigel Farage: the leader of Reform, the British far-right party, announced today that he is stepping down as an MP but intends to stand for re-election in the same constituency. “I am standing to win and to continue the political revolution we have started,” he said, addressing his supporters directly and describing the vote as “the people against the establishment”.
Farage reacted with his usual brazenness to the ongoing parliamentary inquiry following revelations about numerous undeclared donations worth millions of pounds from crypto-billionaires. In his speech today, he reiterated that he had done nothing illegal and that he was the victim of persecution by the Government and the media, who want to block his path to Downing Street. Reform has been leading the opinion polls for months, and Farage makes no secret of his ambition to become Prime Minister.
However, his situation has become increasingly precarious and his reputation is at risk, even amongst his supporters. The latest revelations, published by the Sunday Times, concern the millions of pounds received from George Cottrell, a wealthy English wheeler-dealer who was previously sentenced to eight months in prison in the United States for fraud. Cottrell had offered to launder money for some alleged drug traffickers, who were, in fact, undercover federal agents on a mission who subsequently arrested him.
In recent years, Cottrell has become a billionaire by investing in cryptocurrencies; he has remained friends with Farage and has paid for drivers and bodyguards for himself, as well as for a luxury home near Buckingham Palace made available to the Reform leader.
Farage was already facing criticism over a £5 million donation he received in 2024 from Christopher Harborne, a supporter who became a billionaire through investments in cryptocurrencies and who lives in Thailand as a tax exile. Farage said it was a ‘gift’ from a friend and that he was therefore under no obligation to declare it, but the relevant UK rules are strict and Parliament has consequently launched an investigation.
