Reform UK is confident it will not be required to repay any of the £72 million in donations received from two cryptocurrency billionaires, according to the party's economic spokesman Robert Jenrick. The funds were donated by Ben Delo and Christopher Harborne, both British nationals who have spent time living overseas.

The government is currently proposing changes to the law concerning donations to UK political parties made by British expatriates. These proposed changes include a £100,000 cap on such donations, which would be backdated to March 25.

Jenrick asserted that the donations from Delo and Harborne are "entirely in line with the law as it is and, as far as we know, the law as it's going to be in the future." He added that he did not anticipate the party having to return any of the money.

However, Housing Secretary Angela Rayner indicated that the rule changes would apply retrospectively, and any individuals not complying would have to return the funds. Rayner stated she could not comment specifically on Delo and Harborne due to not understanding their individual circumstances.

Responding to Rayner's remarks, Jenrick suggested that the government might be attempting to make it more difficult for people to donate to Reform UK. "It might be that Angela Rayner or the government keep trying to change the law to make it even harder for people to donate to Reform, nothing would surprise me," he said, reiterating the party's belief that the donations are legal under current legislation.

Both Delo and Harborne are understood to have returned to the UK, with Delo reportedly back in the country since last year. Jenrick suggested that Delo's return was partly to ensure compliance with the proposed legal changes.

A Reform UK spokesman issued a statement expressing "100% confidence" that both donations are legal and will not need to be returned. The party's position is that the donations are compliant with existing regulations.

Sources familiar with the government's proposed changes noted that the applicability of the new rules to Delo and Harborne would likely depend on how "UK residency" is defined by ministers. The complexity of residency rules was highlighted, with tax law definitions suggested as one possible approach.

The government's proposed changes were added to the Representation of the People Bill after approval by MPs and will undergo scrutiny in the House of Lords. Rayner confirmed the proposals were a direct result of a review published on March 25, and the intention for them to be retrospective to that date was publicly known.