UK politics increasingly funded by billionaires as mega-donations surge

Over the past two parliaments, UK political parties have received a surge of mega-donations from wealthy individuals, with a total of £179 million donated since 2019, according to research from the IPPR thinktank. The figures show that contributions from individual donors have risen significantly, with 72% of all £1m-plus donations since records began coming since 2019.

This represents a dramatic increase from an average of £3.9 million per year between 2001 and 2018, to £13.1 million per year between 2019 and 2025. The research highlights that the influence of a small group of wealthy individuals is playing an increasingly influential role in Westminster, with the Conservatives' biggest donors including Frank Hester, who gave more than £20 million before the 2024 election, and Labour's Gary Lubner, who has given more than £9 million in total.

Reform UK, which has received record donations of £36 million each from billionaires Christopher Harborne and Ben Delo, has also been affected by this trend. Civil society groups and Labour MPs are calling for a cap on donations, with some suggesting a cap of £100,000 or £500,000 per year, to prevent wealthy individuals from having an outsize influence on politics.