Farage's Reform UK needs a slice of the political donations pie, and it's eyeing the Conservatives' plate

Reform UK is making a bold play for political donations, hosting a high-profile fundraiser in London next week to entice former Conservative backers to bolster its coffers.

The dinner, set for Tuesday (January 28) at the exclusive Mayfair private members’ club Oswald’s, carries a price tag of up to £25,000 per ticket. Party leader Nigel Farage and treasurer Nick Candy are aiming to raise more than £1 million at the event, party officials said Friday (January 25).

The fundraiser would be a big moment for Reform UK as it positions itself as a challenger to the established Conservative Party.

Several individuals who have collectively donated substantial sums to the Tories in the past are expected to attend, potentially deepening financial pressure on Tory leader Kemi Badenoch’s party amid defections and declining support.

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Tickets for the event range from £10,000 to £25,000, and attendance is expected to reach up to 90 donors, Financial Times cited a source familiar with the planning as saying. A former Conservative donor who plans to attend described their decision as exploratory.

“The interest in supporting the Tories is at an all-time low. The interest in supporting Reform is slightly better, but the jury is still out whether it will deliver or not,” the individual said.

Summer festival and fundraising goals

The Mayfair dinner is just one component of Reform UK’s broader fundraising drive, which aims to secure tens of millions of pounds ahead of local elections in May and a potential general election later this decade.

Plans are also underway for a larger summer event, billed as a “Reform festival,” expected to attract thousands of attendees.

The festival, described by party officials as a celebration of the party’s growth, is designed to energize supporters and generate additional funds. Reform UK is currently polling at 24 per cent, narrowly ahead of the Conservatives and trailing Labour by three points, according to recent polling averages.

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Testing political momentum

The influx of donations could serve as an important test for Reform’s viability as a political force. In last year’s local elections, the party contested only a fraction of available council seats and secured just two victories.

This year, it hopes to make more significant gains, particularly in contests for newly created mayoral positions in Greater Lincolnshire and Hull and East Yorkshire.

Reform UK’s ambitions are further buoyed by Nick Candy’s recent appointment as treasurer of the party. A property magnate and former Conservative donor, Candy has pledged to personally contribute £1 million and to raise at least £40 million for the party, Financial Times reported.

His involvement is being seen as a strategic shift to courting deep-pocketed Tory donors.

Conservatives’ response

The Conservative Party dismissed concerns over defections and donations. A spokesperson said the party is “working hard to renew and rebuild trust with the British people” under its new leadership.

While Reform UK is gaining attention with its high-profile fundraiser and plans for future events, questions remain over its ability to convert financial backing (if it comes) into electoral success.

For now, Farage’s party is betting that dissatisfied Conservative donors will see Reform as a worthwhile investment in Britain’s political future.