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Fresh off Nigel Farage's fiscally fruitful weekend, Labour is looking to crack down on party donations

Reform UK has started spending its £72million war chest despite the looming threat of Labour capping donations.

Nigel Farage's party has recently been injected with the massive financial backing from two crypto billionaires, triggering a row over capping political party funding.

Amid rumours of a snap general election, Reform UK has started funnelling its funds into expanding its top team, increasing its number of staff and creating a new YouTube channel, Reform UK TV.

Reform UK was handed a record-breaking £72million in donations on Saturday after a 48-hour flurry from cryptocurrency billionaires Ben Delo and Christopher Harborne.

Fresh off Mr Farage's fiscally fruitful weekend, Labour is cracking down on political donations via their Representation of the People Bill 2026, which would see a cap on the amount of individual payments to parties.

Angela Rayner and convicted fraudster Louise Haigh are plotting to introduce new legislation to limit the amount of money donors from overseas can hand over, capping the figure at £100,000.

With the new funding, Mr Farage's top team is doubling its policy team from 10 to 20 staff in its Westminster party headquarters, giving its media team a boost as well.

However, job adverts for regional party leaders across the nation are also live, with more than 400 positions available to keen campaigners.

Mr Farage has insisted that all donations to his party are "compliant" with current legislation on party funding.

Ms Haigh and Ms Rayner have called on the Electoral Commission to review the donations, which they said were "too high".

Speaking at the Trades Union Congress conference, the Housing Secretary vowed Labour will "defend democracy from any foreign dictator or fascist oligarch".

Ms Rayner said: "Nigel Farage's sugar daddies made their money in crypto, but there's nothing cryptic about their motives.

WESTMINSTER'S DONATION ROW:

"How dare they try to compare money from a couple of crypto billionaires to union members' subscriptions - the most highly regulated political funding we can have.

"It couldn't be more different from a couple of offshore billionaires trying to buy our democracy."

She added: "So let me be clear: we will defend our democracy and society from any foreign dictator or fascist oligarch who seeks to divide our country and buy our politics.

"But we will never undermine the rights of working people to organise collectively and democratically."

But, if the donations are blocked, Mr Farage has warned the entirety of the British political system would "collapse".

Speaking to the BBC, Mr Farage said: "There is talk of them retrospectively declaring the donations illegal.

"Well, that simply cannot be. If a Government was allowed to do this, you know what would happen?

"There'd be a response the other way. We, or the Conservatives, would say, right, if you're going to stop legimitate donors like this, we will then say to the trade unions, you can't give money.

"And if you do that, you have collapsed the whole political system."