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The Conservatives raked in more donations than any other big UK political party in the first three months of 2025 as backers returned to the fray, while Nigel Farage’s Reform UK failed to secure big-ticket supporters.
The Tories received more than £3.3mn in donations in the first quarter, the Electoral Commission said on Tuesday. In the same period, the governing Labour party received £2.3mn, while Reform and the Liberal Democrats received just £1.5mn.
Kemi Badenoch’s party received its single biggest donation of £1mn from gaming entrepreneur and new donor Jeremy Elliott San in February, according to figures published by the UK elections watchdog.
Media reports suggest he donated a further £1mn ahead of the local elections in England in May, though data for that period has yet to be published.
The Conservatives also secured £250,000 from Flowidea Ltd, run by banker Sir Henry Angest, as well as fresh donations from longtime backers such as billionaire Anthony Bamford, chair of equipment maker JCB.
Billionaire hedge fund manager Alan Howard gave £50,000 in the first quarter, having not donated since 2023.
Meanwhile, the bulk of funding for Farage’s rightwing populist grouping came from its deputy leader Richard Tice, who has been its main financial backer in recent years.
The rise in donations for the Conservatives reflects enduring support for one of the most successful political parties in the democratic world, from both new and historic backers.
Many are eager to see the main opposition party regain momentum after it suffered its worst-ever general election defeat last year and has floundered under Badenoch.
A YouGov voting intention poll published on Tuesday showed the Conservatives on 17 per cent, Labour on 23 per cent and Reform on 29 per cent.
The Financial Times reported last week that senior figures in Reform had grown frustrated with its treasurer, Nick Candy, saying big donations had failed to materialise — including his own “seven figure” pledge — even as the party has tapped into voter anger and soared in opinion polls.
One of Tice’s companies, Tisun Investments Ltd, donated more than £600,000 to Reform over the period, while Fiona Cottrell, a longtime backer of Farage, gave £250,000.
Cottrell is the mother of British financier George Cottrell, who is closely connected to the party and regularly attends events. He was imprisoned in the US in 2017 after having been found guilty of fraud.
Fiona Cottrell has now given £750,000 to the party in total.
Labour received more than half of its donations from trade unions, including £400,000 from Unite.
