Nigel Farage was filmed in a promotional video for Stack BTC, a London-based firm listed on the UK challenger stock exchange Aquis, The Independent reports. Stack operates by building a portfolio of companies and channelling their surplus cash into bitcoin, with a core objective to establish a substantial bitcoin treasury through continuous accumulation of the digital currency. Farage and Reform UK have pledged to liberalise the bitcoin market, but Labour questioned why Farage was investing his money with Kwarteng, whom they described as the architect of Liz Truss's disastrous mini Budget.
Labour's Anna Turley stated that Farage is hyping up a former Tory chancellor who crashed the economy to line his own pockets, adding that while Labour works to clear up the mess, Farage is cosying up to the architect of the catastrophic mini-budget. The specific impact of Farage's bitcoin purchase and Reform UK's policies on bitcoin market liberalisation remains unclear. Reform UK has taken millions in major donations from crypto billionaires including Christopher Harborne and Ben Delo, The Independent reports.
Nigel Farage is hyping up a former Tory chancellor who crashed the economy, in a bid to line his own pockets.
In response, Labour has moved to ban crypto donations to political parties and has asked the Electoral Commission to investigate potential crypto donations that Farage claims Reform UK has received but has not yet declared. Whether the Electoral Commission will investigate these potential donations is unknown, as are the exact amount and details of the crypto donations that Farage claims Reform UK has received but not declared. 4% of the company, according to The Independent.
The full extent of Kwarteng's role and influence in Stack BTC beyond being executive chair is not detailed in the reports. Nigel Farage defended his deputy Richard Tice for the first time over allegations he had failed to properly pay tax on dividends, The Independent reports. Tice has been accused of failing to pay tens of thousands of pounds in tax on dividends that were paid to him and his offshore trust.
From Farage's crypto-boosting to his deputy Richard Tice's admission that his business didn't pay the taxes it owed, Reform are more interested in themselves than in standing up for working people.
Tax expert Dan Neidle claimed that Tice's company broke the law regarding tax payments. Tice owns a property company, Quidnet Reit, which from 2020 to 2022 paid Tice and his trust £60,000, The Independent reports. The outcome of the allegations against Tice regarding tax payments on dividends is uncertain.
Labour's Anna Turley commented that from Farage's crypto-boosting to Tice's admission that his business didn't pay the taxes it owed, Reform are more interested in themselves than in standing up for working people.
While Labour is working to clear up the mess the Tories left, Nigel Farage is cosying up to the architect of Liz Truss's catastrophic mini-budget. It tells you everything you need to know about whose side he's on.
There was no ability to choose for different people to pay tax, months later than it should be paid. The law is the law. It’s not optional.