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Nigel Farage has been reported to the parliamentary standards watchdog over his private lobbying of the Bank of England to abandon its digital currency plans, according to The Guardian. The complaint, filed by Labour MP Phil Brickell, comes amid a separate investigation into whether Farage should have declared a £5m gift from a major crypto investor.

Coverage comparison

The Guardian has reported the story across two articles. The first focuses on the complaint by Brickell and the substance of Farage's meeting with Bank of England governor Andrew Bailey, framing it around a potential breach of parliamentary rules. The second examines efforts by the donor, Christopher Harborne, to register to vote in the UK, and the implications for planned restrictions on overseas donations.

The two reports are complementary: the first details the lobbying complaint and its context, while the second explores the donor's attempts to maintain his ability to fund Reform UK.

Key claims

  • Farage's lobbying: According to The Guardian, Farage used a private meeting with Bank of England governor Andrew Bailey to urge the Bank to drop its plans for a state-run digital currency, the so-called 'Britcoin'. Farage told an audience at the Zebu Live event in October that he regarded the plans with "total and utter horror," and recounted asking Bailey directly whether the Bank was still progressing with the project. He reportedly told the event that he would be "prepared to go to prison" to stop it.
  • Harborne's financial links: Christopher Harborne, a Thailand-based crypto investor, has donated £15m to Reform UK and gifted Farage £5m shortly before the 2024 elections, as reported by The Guardian. The newspaper notes that Harborne is a major investor in Tether, a company that could gain from a weakening of stablecoin restrictions. The £5m gift was previously revealed by the Guardian in April.
  • Complaint to the standards commissioner: Labour MP Phil Brickell, chair of the parliamentary group on anti-corruption and responsible tax, has referred Farage's actions to the standards commissioner, Daniel Greenberg. Brickell argued that the lobbying is a separate matter from the existing inquiry into the undeclared gift, and relates to rules designed to stop MPs making approaches to public officials or ministers on behalf of companies or individuals that pay them.
  • Existing investigation: The standards commissioner is already investigating whether Farage should have declared the £5m gift from Harborne, which he received in the months before returning to parliament.
  • Harborne's voter registration: Harborne has registered to vote in Hampshire, with a spokesperson quoted in the Times saying he decided to become a "registered voter in the UK." The Guardian reports that this may be an attempt to circumvent planned changes to the political donations system.
  • Planned donation changes: An independent report by Sir Philip Rycroft in March proposed a cap of between £100,000 and £300,000 a year on donations from "British voters living abroad," along with other measures such as blocking donations made in cryptocurrency. The Guardian reports that the definition is yet to be decided, but is expected to be based on whether someone is based in the UK, not just registered to vote.
The Guardian's reporting notes that Harborne has been based in Thailand for more than five years and uses the Thai name Chakrit Sakunkrit.

Perspectives

The Guardian's reporting presents the perspective of the complainant, Labour MP Phil Brickell, who argues that Farage's actions may constitute a breach of parliamentary rules. The reports also include the perspective of Harborne's spokesperson, who said he had decided to become a registered voter in the UK. The articles do not include direct responses from Farage, the Bank of England, or the standards commissioner.