Property tycoon Nick Candy announces he’s giving Reform UK '7 figures' after becoming party treasurer

10 December 2024, 12:15 | Updated: 10 December 2024, 12:25

Billionaire property tycoon Nick Candy will give a "seven-figure" sum to Reform UK after he quit the Conservatives to join Nigel Farage and become the party’s treasurer.

Mr Candy accused the Tories of a "complete breach of trust with the wealth creators in our country" as he announced he would be taking up a fundraising role for Reform in the new year.

His wife, former pop star Holly Valance, is also a prominent backer of the party.

As he posed for a photo op with Reform leader Nigel Farage, Mr Candy was asked if he would be donating any of his own money to the hard-right party.

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"Of course," he replied.

Asked how much, he said he would be giving a "seven-figure sum".

Asked whether Reform was the party of millionaires and billionaires, Mr Farage said: "No, we haven't sold a single peerage."

He added: "We need ammunition. We can't fight big national campaigns without the money."

Asked whether Reform would be taking money from Elon Musk, he said: "We don't know anything about Elon Musk" but added that if money were offered "we will take it".

Reform has recently been buoyed by a series of Tory defections, including former minister Andrea Jenkyns.

It described Mr Candy's appointment as its "latest coup" ahead of the local elections in May.

It comes after Suella Braverman’s husband, Rael, also jumped ship from the Conservatives at the weekend.

Mr Candy said: "I have today resigned my membership of the Conservative Party after many years of active support and substantial donations to the party.

"I am sorry to say there have been too many broken promises and a complete breach of trust with the wealth creators in our country.

"Nigel Farage is a close personal friend of mine, and Reform UK represents the future of British politics.

"I am pleased to announce that I will now become the Treasurer for Reform UK and intend to raise enough funds for them to win the next general election. I will take up the role in the new year."

Reform UK leader Nigel Farage said: "I warmly welcome this decision. We are the fastest-growing movement in British politics today, and Nick's efforts will help Reform UK transform our country."

The party has recently been buoyed by a series of Tory defections, including former minister Andrea Jenkyns.

It described Mr Candy's appointment as its "latest coup" ahead of the local elections in May.

It comes after Suella Braverman’s husband, Rael, also jumped ship from the Conservatives at the weekend.