UK (Parliament Politics Magazine) – Tech billionaire Bassim Haidar quits Tories, donates £1m to Reform UK, and urges wealthy supporters to back Nigel Farage’s party.
As reported by The Guardian, a major donor to the Conservative Party has moved to Reform UK, committing £1 million to assist Nigel Farage’s mission to “bring this country back to its glory.”
What did Bassim Haidar say about leaving the Tories for Reform UK?
Earlier this year, Bassim Haidar, who had donated over £700,000 to the Conservative Party under Rishi Sunak’s leadership, stepped down, saying the party had “strayed from its course.”
The tech mogul firmly believed that Mr Farage could become the next prime minister. He has already committed more than £200,000 to the party before next week’s local elections, a contribution that is expected to be the largest single donation during the campaign.
He believes that his support for Reform could reshape the party’s future, not just because of the significant financial contribution he has made – making him the party’s top donor – but also because it may inspire other wealthy individuals to contribute.
Mr Haider said,
“I’ve always been pro-business and I always supported parties that supported businesses. The Conservative Party stopped listening and, for me, I had to go with the party that I believe can actually reset and change the status quo in the UK.”
He stated, “Nigel and Reform are the only ones that can do this and that’s why I’m supporting them. If we want a better future, we have to stop funding the past.”
Mr Haidar raised concerns about the Tories over their manifesto pledge last year to abolish non-dom tax status, a move that closely aligned with Labour’s stance and, in his view, contradicted the party’s fundamental principles.
He argued that Labour’s crackdown on non-doms “defies all logic,” warning it would result in a net loss for the Treasury as 11,000 wealth creators leave the country.
The tech billionaire pointed out that Mr Farage was “listening to the people, he is addressing their concerns, he is talking about immigration in a way that no one has actually spoken about, he is willing to do things that I think the other parties aren’t willing to do.”
Mr Haidar stated,
“I believe he would reform tax, he would encourage investment, maybe come up with a new non-dom tax regime, so hopefully once he becomes prime minister we’re going to see the UK becoming great again.”
In response to the question about the Reform leader reaching Number 10, he said,
“Very convinced. He has all the power now, he’s ahead in the polls, and the public has confidence in him. Nigel has all it takes, and if funding is an issue I don’t think he will have that issue going forward.”
Following several meetings with the Reform leader, Mr Haidar opened his wallet, stating he was impressed by the way the leader “speaks from the heart.”
Referring to his donation to Reform, he stated, “I have committed a million pounds for now.” He then explained that 20-30% of the amount had already been paid, with the rest likely to be given soon, depending on the party’s requirements.
The tech mogul added,
“There is absolutely nothing in it for me except for my belief that Nigel can turn it around and restore this country to its glory.”
Mr Haider said,
“I have a few friends that are seriously, seriously considering [donating to Reform]. Some of the statements that Nigel made recently have resonated with them and I have got calls and they have told me they really believe that he is on the right track and they have become very encouraged,”
adding,
“I know it will come. Like everything else you have to be a pioneer, you have to lead and once you lead people will follow. Nigel has done it from a political point of view, I want to do it from a support point of view.”
Talking about Reform’s chances to win in elections he stated,
“They have a lot of momentum behind them. Yeah, they are a small party but what does that actually mean? It means nothing. All of us were small once. It’s the same thing I said to people who thought I would never make it in life, when I was in my 20s and I was starting out in business and I had something to prove, and look where I am today.”
Why did Bassim Haidar lose faith in the Conservative Party?
Before the general election last year, Bassim Haidar had discussions with the Treasury under Tory leadership, recommending that non-doms pay a flat tax rate of £200,000 on their foreign earnings.
He argued that non-doms would have been willing to pay this flat tax, which could have generated double the £2.7 billion that Labour claims its reforms will raise.
Mr Haider said,
“No one listened. The result is declining tax revenues which we will see in April next year and 11,000 wealthy people leaving the UK.”
He revealed that in the luxury apartment building in London where his main residence is, “four affluent families departed on March 31. They left, saying ‘we can’t stay here anymore.'”
Mr Haidar did not reveal the names of the senior Tories involved in his discussions but stated,
“I will say this very clearly: when a party changes from facts to ideology, they have lost their way. And if they have to do whatever it takes to win an election, which means going against their own principles, they have also lost their way. And that’s what happened.”
Due to this reason, he added,
“I’ve lost confidence [in the Tories] and I’ve got to do what’s best for me and the country and my family.”
What did Nigel Farage say about Reform’s progress and Bassim’s donation?
Nigel Farage stated,
“Reform has achieved a huge amount on a small budget so far. With a donation like this, we can rapidly build out our team and professionalise further as we head towards the next general election. This is especially true if others follow Bassim’s lead.”
Recent poll about Reform UK
According to a new poll from More in Common, Reform UK is predicted to become the largest party in the general election. The survey reveals that Nigel Farage’s party is expected to secure more than 150 seats from Labour, bringing its total to 180 seats. Meanwhile, Labour and the Conservatives are expected to tie with 165 seats each.