Nigel Farage’s income since being elected MP has hit £2m, analysis shows
Nigel Farage’s income since he was elected as an MP has now reached £2m on top of his parliamentary salary, analysis of the register of MPs has shown,Farage’s earning power sets him alongside a small number of MPs who have been able to leverage their status for external income alongside their day jobs – drawing comparisons to Boris Johnson, who made about £5m on top of his MP’s salary in the six months after he resigned as prime minister,Analysis by the investigations website DeSmog shows Farage has registered more than £2m in financial interests since July 2024, when he was elected as the MP for Clacton,The figures come amid growing scrutiny of Farage’s wealth after the Guardian revealed last week that the Reform UK leader received and did not declare a £5m gift from his party’s mega-donor Christopher Harborne prior to the 2024 general election, potentially in violation of parliamentary rules,Farage has said he had no need to declare the money as it was “an unconditional, non-political, personal gift”.
He said he used it to pay for his security.However, Labour and the Conservatives have criticised the non-disclosure – and on Wednesday, a senior Reform member admitted it was frustrating their leader had not declared the gift.“There’s no question that Nigel is a rock star.And he has undoubtedly faced threats to his security.But we do need to make greater progress away from personality towards policy [as a party].
I do wonder if this could have best been avoided by declaring it in the first place.It is a disappointing distraction,” the senior party member said, speaking on condition of anonymity.One poll published by the New Statesman on Wednesday suggested the disclosure of the gift is causing alarm among voters.A Survation poll for 38 Degrees, a progressive campaign group, said more than two-thirds of the British public (68%) had concerns the gift could give Harborne “inappropriate influence” over Farage’s political decisions and priorities.MPs and candidates for Reform were given “lines to take” in media interviews when asked about the gift.
These included placing emphasis on the security threats Farage has faced and that the gift was unconditional and personal.On that basis, it was not necessary to declare it on the register of members’ interests, the open record of the gifts, benefits and donations MPs receive, according to the party’s briefing.The news of the £5m gift has also created an atmosphere of disquiet within Reform HQ, according to two staffers who asked not to be named.One summed it up as a “paranoid vibe” with constant fears about a high-level mole after the news report.The insiders also described individuals being questioned about how the Guardian discovered the £5m gift to Farage.
People were “pulled aside for interrogation”, the second staffer said.The Electoral Commission is looking into a complaint from the Conservative party about the money.Reform UK said it was given as an “unconditional gift” to Farage, who was then the party’s honorary president and had not publicly committed to standing for parliament.He had used the funds for security arrangements, the party said.Parliamentary rules state that any benefits within 12 months before taking office should be declared, depending on whether they are for political or personal purposes.
The rules state: “If there is any doubt, the benefit should be registered,”Farage has doubled down on his assertions that there was no need for him to declare the gift,Farage said on Tuesday that the money was “purely private” and “wasn’t political in any sense at all”,He added: “And believe you me, we’ve looked at this from every legal angle, there is no obligation to declare something that is an unconditional, non-political, personal gift,And it will ensure I can be safe for the rest of my life.
”The MP’s principal employer outside parliament has been the rightwing broadcaster GB News, which has now paid Farage £700,000 since July 2024.He registered another £40,662 from the outlet last week.He also listed a new gift from the South African businessman Avi Lasarow, who gave the Reform leader three tickets to a boxing match on 4 April worth £1,749.“That Farage has amassed £2m from personal earnings and gifts while a sitting member of parliament should concern anyone who thinks an MP’s job is to represent their constituents,” said Kamila Kingstone, a senior campaign lead at Spotlight on Corruption.“It’s a systemic issue and highlights a wider failure of the rules that are supposed to ensure integrity in public life.
It risks blurring the lines between public service and private interests, creating the perception that some politicians are in it for themselves.”Reform has been contacted for comment.
Oil and gas prices fall sharply, driven by hopes of strait of Hormuz reopening – as it happened
Brent crude keeps falling amid hopes that the strait of Hormuz could soon be open again. The global benchmark has slid to $97.48 a barrel, down $12 a barrel – a near-11% drop, the lowest since 22 April.US West Texas intermediate crude fell 11.3% to $90
Up to 150 former WH Smith stores face closure, putting thousands of jobs at risk
Up to 150 former WH Smith stores are likely to close, putting thousands of jobs at risk under a radical restructuring plan by their new owner, which had rebranded the shops as TG Jones.The investment company Modella Capital, which bought WH Smith’s chain of 480 high street stores for £76m last year, blamed “weak consumer spending” as it set out the plan to landlords on Wednesday.Eight of the chain’s remaining 450 stores will close immediately, while Modella is demanding 100% rent holidays on about 100 more, as first reported by the Telegraph.The company also wants 75% rent reductions on hundreds more stores for a year, with cuts of between 15% and 75% beyond that period, according to a document seen by the Guardian. If landlords refuse the rent holidays and cuts, the stores could shut
Airlines among companies using fuel surcharges to cover surge in costs, UK survey shows
Airlines and other companies are increasingly using fuel surcharges to cover soaring costs, a survey has found, in a further sign of Iran war-linked inflation hitting the economy.A poll of companies in the services sector, which includes airlines, found rising fuel prices had contributed to businesses raising prices at the fastest pace in more than three years in April.Nearly six in 10 firms surveyed by S&P Global said average costs rose last month, mostly driven by fuel and higher wages, but also in part by metals and plastics getting more expensive.IAG, the conglomerate that owns British Airways, Iberia, Aer Lingus and Vueling, said last month it would make “some pricing adjustments to reflect these higher fuel costs”, although it stopped short of labelling the move as a surcharge.Meanwhile, Virgin Atlantic has added a charge of £360 to business class tickets, falling to £50 for economy
JD Wetherspoon issues third profit warning this year as costs climb
The boss of JD Wetherspoon has said the pub chain could miss profit expectations because of rising costs, in the latest sign the UK hospitality industry is buckling under the pressure of higher energy, food, labour and tax bills.The company’s chair, Tim Martin, told investors on Wednesday: “As many hospitality operators, including Wetherspoon, have reported, there have been substantial increases in costs.”It is the third profit warning this year from the company, which operates about 800 pubs across the UK and Ireland. Investors had already been expecting a drop in pre-tax profit to £73m, compared with £81m last year.Pubs, restaurants and hotels have said rising costs are making it harder to make a profit
UK regulator launches review of ‘aggressive’ claims management firms amid compensation concerns
The City regulator has launched a review of claims management companies amid concerns that firms are misleading victims of financial scandals, such as car finance, about their compensation.The Financial Conduct Authority (FCA) said some companies were pursuing “aggressive marketing, misleading advertising and unfair exit fees”.Some consumers were being signed up without their permission or by multiple companies, the FCA said, which could delay any compensation owed.Claims management companies (CMCs) have targeted victims of the car finance scandal, where they can charge fees worth up to 33% of the final payouts. The FCA and lenders have advised consumers not to use these firms as the regulator’s scheme is free to use
‘Our competitors are everyone’: Joybuy leads ‘China’s Amazon’ into the UK
“We’re here to shake up the UK e-commerce market,” says Matthew Nobbs, the UK boss of Joybuy which is spearheading a European charge by China’s version of Amazon.“I see our competitors as everyone,” he adds, reflecting the scale of ambition of the online retailer that sells home appliances, groceries, makeup and more.Joybuy is owned by China’s JD.com, the giant online and high street retail group which is taking on its US rival Amazon in Britain in a clash that is expected to lead to “collateral damage” for UK retailers caught up in the tussle for shoppers.JD
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