Major curbs to party donations from overseas proposed in blow for Reform

A government-commissioned report has proposed significant curbs to political donations, in a move likely to hit Reform UK's funding the hardest.

Plans to limit the amount Britons overseas can donate to British political parties, limits on company donations and a new moratorium on crypto currency money for political parties have been proposed by an ex-mandarin in a report released today.

Philip Rycroft, a former top official is proposing immediate changes to legislation which he says will curb foreign financial influence on our political system. He also proposes banning political adverts which are funded overseas, as well as lowering the burden of proof for electoral offenses.

The report says that there is a "persistent problem of foreign interference", which can be "malign" and "sow discontent".

Rycroft says the intention is to undermine confidence in our democracy.

However he also concedes there is "no immediate crisis" and no evidence that the 2024 election was distorted by foreign financing.

As well as traditional hostile claims, the report says that there is a "new threat" from the United States, as allies as well as enemies seek to "interfere and pursue there own goals.".

The moves would curb donations by Christopher Harborne, the Thailand based fan of cryptocurrency, and gave over £12 million in the last year to Reform. Reform UK also accepts crypto donations which would be suspended.

The law could be changed in months, with amendments to legislation already in the Commons.

Nigel Farage has previously complained that this review is designed to hurt Reform UK.

Rycroft spoke to a large range of figures for the report, many of whom are hostile to Reform UK, but none of Reform UK's MPs individually. He did speak to Reform UK party officials, however.

(c) Sky News 2026: Major curbs to party donations from overseas proposed in blow for Reform